Shielding the Financial Future of Individuals with Disabilities

Third-Party Special Needs Trusts

A third-party special needs trust is for parents and family members who want to provide for a person with special needs without disqualifying or interrupting public benefits. We hold, protect and administer "inherited" money for the individual with a disability in a professional, caring and cost-effective manner.

A Special Needs Trust (SNT) is a special type of trust that enables an individual with a disability (the beneficiary) to benefit from the assets held in the trust, but those assets are not “counted” for the purposes of determining if that beneficiary is eligible for governmental benefits such as Medicaid or Supplemental Security Income (SSI).  Often times parents or grandparents think that they have to disinherit a family member with special needs so they won't lose benefits- this is not necessarily the case. Talk with your estate planning/elder law attorney for the options you may have. For a copy of our informational brochure, please click here.

 

WHY CHOOSE THE POOLED THIRD-PARTY GUARDIAN SPECIAL NEEDS TRUST?

The Third-Party Pooled Guardian Special Needs Trust was created to give an option to join an already established, professionally managed Special Needs Trust, eliminating the burden of personally managing your loved ones SNT.

The Trustees of the Third-Party Pooled Guardian Special Needs Trust have extensive experience in the proper management and utilization of your loved ones assets, providing for the beneficiary's needs while ensuring that the assets will not be used in a way that interferes with Medicaid or SSI.

Proper financial planning for your loved ones assets is a crucial part of any SNT. The Investment Advisor for the GSNT has many years of experience dealing specifically with the financial needs of individuals with disabilties and the assets are invested and managed with the primary focus being the beneficiary's personal needs and goals.

Requests for payments are quickly and efficiently processed by our Administrators and your account information is readily available, via telephone, email, fax or US mail at no extra charge.

What language do I need for my Will or Trust to fund an account with the Third-Party Pooled Guardian Special Needs Trust?
 
Here is sample language your attorney can use to draft provisions to fund a Third-Party Pooled Guardian Special Needs Trust sub-account for your loved one, using your Will or Trust.

 

“I give and bequeath (the sum of $___________OR ____%) of my estate to the Trustees of The Guardian Special Needs Trust dated May 27, 2015 (“the Trust”), as Trustees for the benefit of________________________, the beneficiary of this share.

 

Said funds to be held in Trust for the uses and purposes and upon the terms contained in the Trust, and further subject to the following terms and conditions. (Attorneys may wish to add specific clauses with respect to their client's wishes)

 

Upon the death of the said beneficiary, the principal and income then remaining, after the application of Sections 6.1 and 6.2 of the Trust, shall be paid as follows:

 

_______________________________________________________________________________”

 

 

Individual Third-Party Trustee Services:

 

Please find our third-party questionnaire by clicking here.  Please sign and email the fully executed questionnaire to our office.

 

To name us as Trustee, the proper name is Guardian Trust Foundation, Inc.  We also need to be sure there is a remainder interest since we are a non-profit trustee.

 

Our contingent interest can say something like: “Upon the death of the beneficiary then the non-profit Trustee, Guardian Trust Foundation, Inc., shall receive $100.00 as a remainder interest. The rest, residue and remainder of the trust estate shall pass to…”  Call or email us with any questions. 

 

 

Third-Party Pooled Special Needs Trust Membership Requirements:
  • The Beneficiary must meet the Social Security definition of disabled. The Social Security definition is as follows:
    • Disability under Social Security is based on your inability to work. We consider you disabled under Social Security rules if you cannot do work that you did before and we decide that you cannot adjust to other work because of your medical condition(s). Your disability must also last or be expected to last for at least one year or to result in death.
  • The Joinder Agreement must be signed by the Grantor.
  • The cash/liquid assets are then used to fund the Beneficiary's Sub-Account.
  • The Beneficiary's Sub-Account must be established for the sole benefit of the Beneficiary. 

For a copy of our informational brochure, please click here.

Fees:

Click here for our POOLED third-party SNT fee schedule

Click here for our third-party individual SNT fee schedule

Membership Procedure