Solutions

A brief comparison of all the programs offered by CPT

First Party Special Needs Trust

Used to preserve eligibility for means-tested benefits such as Medicaid and/or Supplemental Security Income.

Preserves eligibility for individuals utilizing a Medicare Set-Aside (a countable asset for means-tested benefits).

Third-Party Special Needs Trust

Funds given to the recipient of means-tested benefits (such as Medicaid and/or Supplemental Security Income) from a third-party to preserve eligibility.

Typically an inheritance.

Medicaid does not have a right to recover on funds at time of trust termination.

Settlement Management Trust (SMT)

Used to protect from misappropriation and/or when the client will have an anticipated need for means-tested benefits in (such as Medicaid and Supplemental Security Income) in the future.

Has trigger powers to transfer into a Special Needs Trust to protect eligibility at any time.

Minors Settlement Trust (CA only)

Used when a minor needs access to settlement funds prior to age of majority and does not need to preserve eligibility for means-tested benefits (such as Medicaid and/or Supplemental Security Income).

Spend Down

This blog will provide guidance for properly completing a Spend Down. this strategy is often ideal for small settlements and those with extensive debt.

We are happy to provide guidance at no-cost as a part of our charitable activity.