Supporting Special Needs Families: Exploring Trusts & ABLE Accounts

This presentation will provide an overview of the different types of special needs trusts (first-party, third-party, and pooled trusts) and explain the value of these instruments for individuals with disabilities. The presenter will also explore the use of ABLE accounts as an alternative to special needs trusts, or as a tool to be used in conjunction with these trusts. Case scenarios will be used to compare the effectiveness of ABLE accounts with special needs trusts in maintaining eligibility for needs-based government benefits, avoiding Medicaid reimbursement, providing alternatives to guardianships, encouraging a beneficiary’s independence, avoiding unnecessary costs, and offering long-term financial strategies for families with special needs.