Public benefits are an important resource for people with disabilities and their families, but many require the individual to meet strict asset and income limits. Receiving even a small inheritance from someone could place a person with a disability over the limit and jeopardize their eligibility for services.
A third party supplemental needs trust (also called a special needs trust) is the best way to provide secure resources to a person with a disability whether you need to preserve benefit eligibility or are planning in advance to protect a person's future eligibility for public benefit programs such as, Supplemental Security Income (SSI) and Medicaid.
What's even better, the funds in a special needs trust can make dramatic improvements to a person with a disability's quality of life by paying for a range of items and services that their benefits do not provide.
With proper special needs planning and the use of a supplemental needs trust, you can preserve government benefit eligibility and protect your loved one's financial future.
The NYSARC Trust (Unrestricted Fund) administers third party special needs trusts funded by a parent, grandparent, sibling, or other loved one of a person with an intellectual or developmental disability.
This trust requires a minimum initial deposit of $25,000 and charges no administrative fees during the lifetime of the beneficiary to maximize the benefit to your loved one. The only costs include a nominal investment management fee and any direct expenses incurred.
When planning for the future of a loved one with a disability, the Donor/Grantor (person who funds the trust) can choose to fund a special needs trust during their lifetime or as part of an estate plan.
When a Beneficiary passes away, the first $25,000 is transferred to NYSARC's Exempt Fund to support NYSARC’s unfunded Corporate Guardianship Program, which currently includes more than 700 people with intellectual and developmental disabilities who would otherwise have no legal guardian.
The remaining balance is distributed however you choose as directed in your trust document.
The Exempt Fund is a 501(c)(3) tax-exempt fund that accepts donations and bequests. Your gift supports NYSARC, Inc.’s unfunded Corporate Guardianship Program, which provides guardianship services to people with intellectual and/or other developmental disabilities. Program services provide advocacy and daily support including ways to provide supplemental needs. Gifts or bequests to this fund are tax-deductible to the extent permitted by law.
For more information or if you are interested in making a donation to support this fund, please contact us.
"NYSARC Trust Services representatives have always been very professional and wonderful people to work with. They are doing great work with helping people in need."
"Yours is the gold standard by which all agencies should be measured."
"The quality of service offered by NYSARC Trust Services is unparalleled."
"With a NYSARC trust we know she will always be cared for."
"You enable seniors to live their remaining lives with dignity. The work you do is appreciated more than you know."
"Your organization is a magnificent group of people dedicated to providing the elderly and disabled with a life of dignity."