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Our goal is to enrich the lives of our clients and their loved ones.

In Kentucky, individuals with disabilities and those who love them face many challenges when trying to provide for their needs.

Under current Federal & State law, a person with disabilities having more than $2,000 in assets may not be eligible for Medicaid assistance. Special needs individuals and their families and caregivers can rest easier knowing that their current and future assets are protected.

As a non-profit organization, Life Plan of Kentucky, Inc.  can serve as Trustee for both First Party (the person with a disability’s money) and Third Party (a family member or other person’s money) Special Needs Trust accounts.

Our goal is to enrich the lives of our clients and their loved ones. We do this by offering great care and attention to detail as we try to enhance the quality of life of our clients. We also ease the financial responsibilities and burdens of money management for beneficiaries and their families.

Frequently Asked Questions

What is a Special Needs Trust?

A Special needs trust (“SNT”) is a form of a pure discretionary, spendthrift trust designed to preserve a disabled person’s eligibility for government benefits. These public benefits may include means-tested programs where eligibility is based on financial need, such as Medicaid, Supplemental Security Income (“SSI”) or Snap Benefits (Food Stamps), or insurance programs where eligibility is based on criteria other than financial need, such as Medicare or Social Security Disability Income.

Are there different types of special needs trusts?

Yes. There are both private and pooled First Party Special Needs Trusts. In addition, there are Third Party Trusts as well.

What are some additional special needs trust considerations?

The primary goal of a special needs trust is to preserve an individual’s means-tested government benefits. Therefore, it is important to learn if individual has the capacity to establish the trust, or if a parent, grandparent or legal guardian can establish the trust on his or her behalf. If not, a court order must be obtained to establish the trust properly.

What happens upon termination of the special needs trust or death of the beneficiary?

Any money/property left in a First Party trust may either be retained by Life Plan for the benefit of other people with disabilities OR repay Medicaid in full. Only if Medicaid is repaid in full is it possible for funds left in a First Party trust to pass to the individual’s family. Funds that remain at the death of a beneficiary in a Third Party trust can go to family members or others, without repayment to Medicaid, because those funds do not belong to the beneficiary.

Let Life Plan of Kentucky be your Trustee for a Special Needs Trust.

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Life Plan of Kentucky, Inc.
230 Lexington Green Circle
Suite 120
Lex, KY 40503

Phone: 859-523-2323