Pooled Special Needs Trust: An Important Estate Planning Tool to Preserve Assets and Protect Public Benefits

If your client has special needs, or has a loved one with special needs, traditional estate planning goals may not be sufficient. The complexity of care often required by a person with special needs creates unique planning challenges. Legally-based planning tools must be properly applied to safeguard the person’s eligibility for public benefits and to supplement those benefits to improve his/her quality of life. A pooled special needs trust (PSNT) is an effective option for individuals or families considering a special needs trust.  PSNTs preserve assets and safeguard public benefits in various situations such as when a client receives an inheritance or gift, structured settlements, alimony, child support or when a minor with special needs turns 18 years or a disabled adult recently becomes disabled. This presentation will discuss the law governing PSNTs, its benefits and complexities. You will learn how these trusts are managed and monitored by a fiduciary to serve the best interests of the client. In the end, attorneys will gain the educational background necessary to determine if a PSNT is the best alternative for their client with special needs.

• What is the governing law, history and purpose of a pooled special needs trust (PSNT)?  (15 minutes)
• What are public benefits and why is an understanding of them critical to proper special needs planning?  (15 minutes)
• What are the types, the pros and cons and examples of PSNTs? (20 minutes)
• What are the duties of a trust administrator? (10 minutes)

Join expert faculty for an in-depth discussion on these issues and other relevant concerns that may be facing estate planning, elder law and fiduciary professionals. 

 

Program Level: Overview

Intended Audience:  Estate planning, elder law, personal injury and family law attorneys; fiduciaries; financial planning professionals

Prerequisites:  None

Advanced Preparation:  None

 

Faculty: 

Karen Dunivan Konvicka, Commonwealth Community Trust

Joanne Marcus, Commonwealth Community Trust

Taken from the Web Program Recorded August 9, 2022 in New York
Pooled Special Needs Trust: An Important Estate Planning Tool to Preserve Assets and Protect Public Benefits [01:04:49]

Presentation Material

Pooled Special Needs Trust: An Important Estate Planning Tool to Preserve Assets and Protect Public Benefits
Karen Dunivan Konvicka, Joanne Marcus