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Are there Different Types of Pooled Supplemental Needs Trusts?

April 26, 2017different Needs pooled supplemental trusts types

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Are there Different Types of Pooled Supplemental Needs Trusts?

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• There are 2 different types of pooled SNT’s based on who “owns” the money which funds the Trust. • If the money belongs to the Beneficiary, it will go into a First-Party SNT. This Trust can be set up by the Beneficiary, a parent, grandparent, legal guardian, or the court. • If the money belongs to someone other than the Beneficiary, and will be put into a Trust for the benefit of the Beneficiary, it will go into a Third-Party SNT. This Trust can be set up by anyone other than the Beneficiary.