What is a third party Special Needs Trust (SNT)?
A third party trust is a general term for a Special Needs Trust that a parent, family member or others (the “third party”) establish “for the benefit of” the person with a disability. Third party trusts are based on applicable state law (both statutory and common law). The SNT is administered by the Trustee appointed by the Grantor and is to be used for the sole benefit of the Beneficiary. Funds from the trust can be used to pay for items not covered by the public benefits the Beneficiary is receiving.
