Fwd: Term of the Day: Special Needs Trust

-------- Original Message --------

Subject:	Term of the Day: Special Needs Trust
Date:	Fri, 22 Jul 2011 16:23:58 -0600
From:	Investopedia.com <webmaster@investopedia.com>
To:	Nelson Brauchitsch <nbrauchitsch@yahoo.com>

TERM OF THE DAY - JULY 22, 2011 Add Investopedia to Safe Sender List Find Investopedia on Special Needs Trust What Does it Mean? A legal arrangement and fiduciary relationship that allows a physically or mentally disabled or chronically ill person to receive income without reducing their eligibility for the public assistance disability benefits provided by Social Security, Supplemental Security Income, Medicare or Medicaid. It covers the percentage of a person's financial needs that are not covered by public assistance payments. The assets held in the trust do not count for the purposes of qualifying for public assistance, as long as they are not used for certain food or shelter expenditures. Assets originally belonging to the disabled individual that are placed into the trust may be subject to Medicaid's repayment rules, but assets provided by third parties such as parents are not. Also called "supplemental needs trust". Investopedia Says... When a third party puts money in a special needs trust, it is ensured that the money will be used for its intended purpose. For example, a parent might put assets in a... Read more » TODAY'S NEWSLETTER IS SPONSORED BY: Slideshow - 6 Ways To Fund A College Education You can go to college without going broke, but it may take an unconventional approach.  View the Slideshow » Special Feature - Forex Punch your ticket to profitability as we take you through the ins and outs of this fast-growing international market. Click here for more. Related Terms Generation-Skipping Trust Incentive Trust Irrevocable Trust Qualified Trust Trust See More » Related Links Special Trusts For Special Needs Encouraging Good Habits With An Incentive Trust Get A Step Up With Credit Shelter Trusts See More » Find Term Of The day Useful? Check out our other FREE newsletters! Stock Watch Weekly Forex Weekly News To Use Warren Buffett Watch Investing Basics The Chart Advisor Report Professionals in the Money You are currently subscribed to term-of-the-day as: nbrauchitsch@yahoo.com To unsubscribe or change your email settings, please click here. Copyright © 2011 - All rights reserved. Investopedia ULC.