What is a Supplemental Needs Trust?

Source of Funding: A Supplemental Needs Trust is an account that is funded by a third party such as a parent, other family member or friend.

Qualification: The CRT is a qualified Supplemental Needs Trust under current federal and state Medical Assistance Regulations. Additionally, the Social Security Office has issued a determination letter to the CRT that it is a qualified Supplemental Needs Trust for SSI purposes. The majority of CRT accounts are Supplemental Needs Trusts.

Benefits: Funds can be placed in a Supplemental Needs Trust account with the CRT without jeopardizing the beneficiary’s entitlement to government benefits.

Upon Death: None of the remaining balance in the trust account is required to repay Medical Assistance expended on behalf of the beneficiary. Sponsors play a major role in directing the disposition of any remaining funds upon the beneficiary’s death.

Comments are closed