Establishing Special Needs Trusts
Experienced Account Administrators
Many clients come to
NDC Advisors as a result of experiencing an injury that qualifies them for needs-based
government benefits. In fact, these needs-based government benefits may
have provided a life-line after their injury to pay for medical care and
provide for housing, food or cash assistance. Maintaining needs-based
government benefits after receiving a recovery may be important for current
or future circumstances. If so, a Special Needs Trust may be a consideration.
NDC Advisors has significant experience administering Special Needs
Trusts across the country. Since each state has varying requirements for
Special Needs Trusts and the law seems to be constantly changing, it is
important to make sure that a Special Needs Trust beneficiary is complying
with the law. At NDC Advisors, we work with attorneys across the
country to make sure that all options are considered when deciding whether
to include a Special Needs Trust in settlement plans. Our experience administering
Special Needs Trusts across the country and our network of attorneys helps
make sure that each client’s Special Needs Trust remains compliant
while providing them with all of the intended benefits.
Special Needs Trusts can provide much flexibility to help a beneficiary
improve their quality of life through recreational, therapeutic, technological,
educational and other resources. For decades, NDC Advisors has been
helping clients to access and enjoy many of the benefits of a Special
Needs Trust through full engagement of our internal as well as external
How Can a Special Need Trust Be Used?
A Special Needs Trust can be used to address a beneficiary’s special
needs. There is no set list of appropriate items, since each circumstance
is different. NDC Advisors’ experience helps us make sure
that a Special Needs Trust is available to meet our clients’ immediate
and long term needs and goals while being mindful of any needs-based government
benefits a client is receiving. We welcome the opportunity to use our
experience in the administration of a client’s Special Needs Trust.
- There are many different ways a Special Needs Trust can be used (so long
as it meets the eligibility factors):
- Education and household expenses
- Travel expenses
- Purchasing, constructing, or modifying a home to best accommodate the injured
person’s specific needs
- Home improvement and repairs
- Transportation/vehicle costs
- Physical therapy, dental care, medical costs
- Home care services
- Entertainment expenses
Special Needs Trusts Eligibility
Working with either a client’s personal attorney or one of the attorneys
in our extensive network, we will coordinate a plan which takes into account
various scenarios including government benefits and private pay resources.
Once all of the information is compiled, clients can make an informed
determination about what kind of recovery management and protection account
is best, whether it is a Special Needs Trust or some other vehicle. We
will also help coordinate the drafting of the document and any Court approval
which may be required. Options for clients receiving a recovery continue
to develop as there are always new and different opportunities for private
insurance and changing regulations impacting each client decision. At
NDC Advisors, we can help clients to analyze the available solutions
to help in making the important decisions.
Determining what expenditures are appropriate for a Special Needs Trust
can be confusing and
are often very fact specific and related to a particular client’s circumstances. Clients deserve an account administrator who understands that that life
rarely affords great clarity when decisions need to be made and that is
comfortable working in the gray areas. Please contact us to discuss how
a Special Needs Trust may be able to help you or your family member.
To learn more about our
services, including how we can help you to establish a Special Needs Trust, contact
our account administrators today at (888) 676-2055.