Disability Trusts in Brooklyn, NY: Protecting Your Loved One’s Future

by | Mar 13, 2024 | Business | 0 comments

When a loved one has a disability, it’s natural to worry about their long-term well-being. How will their needs be met? Will they be able to live independently, or with the support they need? A disability trust in Brooklyn, NY, can provide peace of mind and ensure that your loved one has the resources they need, even after you’re gone.

What is a Disability Trust?

A disability trust is a legal arrangement designed specifically to hold assets for the benefit of a person with a disability. It allows you to set aside funds to supplement government benefits, ensuring that your loved one has access to the care, resources, and quality of life enhancements they deserve. It’s important to note that disability trusts are designed to work alongside public benefits like Medicaid and SSI, not replace them.

Why Consider a Disability Trust in Brooklyn, NY?

• Protects Assets: A disability trust safeguards your loved one’s assets from potentially affecting their eligibility for public benefits.

• Supplemental Support: The trust can provide resources for needs not covered by government programs, such as housing, therapies, education, and recreation.

• Peace of Mind: Knowing that your loved one will be financially secure for years to come brings immeasurable comfort.
Types of Disability Trusts

There are two main types of disability trusts in Brooklyn, NY:

• First-Party Special Needs Trust (SNT): This type is funded with the beneficiary’s own assets (e.g., inheritance, lawsuit settlements). It usually has specific rules surrounding its use.

• Third-Party Special Needs Trust: This type is funded by someone other than the beneficiary, like a parent or grandparent. It offers greater flexibility in its use.
Questions to Ask When Setting Up a Disability Trust
• What are my loved one’s current and future needs?
• How much should I put into the trust?
• Who will be the trustee (the person managing the trust)?
• Should I consult an attorney specializing in disability trusts in Brooklyn, NY?

KTS Pooled Trust

For New York residents looking for a reliable trust provider, KTS Pooled Trust is an excellent option. KTS Pooled Trust focuses on providing exceptional services and support for individuals with disabilities and their families across the country. Their experienced team can help you choose the right trust for your needs and manage it effectively.

Secure your loved one’s future with a disability trust in Brooklyn, NY. Contact KTS Pooled Trust today and learn how they can give you and your family peace of mind.

Let’s Recap…

Understanding disability laws and ensuring a disabled person’s well-being can be complex. Disability trusts can make a significant difference, offering both financial security and a better quality of life. Take the time to learn about your options, and make sure your loved one is protected.


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