Secure Your Future with Expert Special Needs Trust Setup

There are primarily three types of special needs trusts:

• First-Party Special Needs Trust: Funded with the beneficiary's own assets, such as an inheritance or personal injury settlement. It requires a payback provision to reimburse Medicaid upon the beneficiary's death¹.
• Third-Party Special Needs Trust: Funded by someone other than the beneficiary, typically parents or grandparents. This trust does not require a Medicaid payback provision, making it a popular choice for families².
• Pooled Trust: Managed by nonprofit organizations, these trusts pool resources from multiple beneficiaries for investment purposes, while maintaining separate accounts for each individual³.