Types of Trusts - First Party

Contact us to set up a Special Needs Trust
Contact us to set up a Special Needs Trust
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Vista Points Special Needs Trusts Resource Center

Preserved Assets
Ensure every opportunity for a fulfilled and happy life by establishing a first party/self-settled Special Needs Trust.

A first party/self-settled Special Needs Trust is funded with assets belonging to the person living with a physical or intellectual disability — the beneficiary.

A person with special needs might acquire assets though a:
  bullet point Personal injury award   bullet point Life insurance policy, or
  bullet point Retirement plan   bullet point Inheritance
  bullet point Divorce settlement      

If a person living with a physical or intellectual disability owns any significant amount of property outright, eligibility for government benefits will be effected. Instead of owning the property outright, the person with special needs establishes a First Party Special Needs Trust and puts the property into the Trust. The Special Needs Trust, adhering to strict government rules, allows for those assets to be used to benefit the person with special needs without jeopardizing eligibility for government benefits.

Trust Requirements
The beneficiary can apply for or continue to receive public benefits and use the assets in the Special Needs Trust to pay for supplemental items or services not covered by public benefits. First party/self-settled Special Needs Trusts have special requirements, such as:
  bullet point The beneficiary is to be under the age of 65 when the trust is being established.
  bullet point A parent, grandparent, guardian or the court may establish this type of trust for the beneficiary. Only the person with the disability can be the beneficiary.
  bullet point There is a mandatory Medicaid payback provision recognized by Federal law since 1993 under 42 USC 1396p(d)(4)(A).
  bullet point Upon the death of the beneficiary, the State will be reimbursed from the remaining trust assets up to the amount of public benefits expended on behalf of the beneficiary.
  bullet point Any assets remaining in the trust after the Medicaid payback will pass according to the trust provisions.
  bullet point The First Party/Self-Settled Special Needs Trust is irrevocable.

Choose a Professional Trustee
By choosing Vista Points, Inc. to serve as trustee, you are assured of the trustee’s ability to be perceptive to the beneficiary’s special needs, such as:
  bullet point Sensitively navigating issues surrounding the beneficiary’s disability
  bullet point Actively monitoring any provided services
  bullet point Diligently advocating for all qualified public benefits
  bullet point Prudently investing of special needs trust funds
  bullet point Timely reporting of the trust’s financial accounting