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Supplemental Needs Trust

Definition - What does Supplemental Needs Trust mean?

A supplemental needs trust is a trust that is established for a beneficiary who is disabled. The purpose of the trust is to allow the beneficiary to inherit and still be able to access public health care for their incapacity.

An executor would be established for this type of trust, and would be responsible for ensuring that the beneficiary received dividends from the trust or regular allocated payments from the trust.

Justipedia explains Supplemental Needs Trust

In most cases, a person's ability to receive health and medical help on a governmental level is dependent upon their financial need, so if there is money to support private insurance, the person would not qualify.

In cases where the person is incapacitated for the long term and needs a high level of ongoing care, the need arises to ensure that any inheritance does not cost the person their access to publicly funded medical help.

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