Assisting people with disabilities since 1991Navigation
Tax season is upon us! Whether you have been a trust beneficiary for years or are brand new to MSNT, here are some important facts about special needs trusts and taxes.
Missouri Family Trust was established as a result of advocacy by parents and professionals who realized that many obstacles hinder planning for the financial future of individuals with disabilities. The organization was created by statute (RSMo 402.199 – 402.208) in 1989 for the primary purpose of administering special needs trusts for persons with disabilities to protect important public benefits such as Medicaid and SSI. As authorized and specified by statute, the Missouri Family Trust was incorporated as a non-profit and received IRS 501(c)(3) charitable designation.
In 1993 when Congress created public benefit exemptions for Special Needs Trusts, they included provisions to support not for profit trustees and their charitable missions. Federal Social Security and Medicaid statutes allow non-profit organizations to retain a portion of a trust account balance at the death of the beneficiary before Medicaid payback to be used by the trustee for its charitable mission.
MSNT Trust Specialist III Casie Stephens with Camp Wonderland Executive Director Cory Polk at the Case Manager Picnic in Rocky Mount, Missouri on April 6, 2017.
MSNT Trust Specialist II Mary Lou Hughes and Cindy Evert Christ Project Manager with the Brain Injury Alliance of Nebraska at the 2017 Brain Injury Conference in Kearney, Nebraska March 23.
MSNT Charitable Trust Specialist Heather Allen and Executive Director Kathy Birkes with Missouri Coalition for Oral Health Executive Director Gary Harbison and Mike Jurkovich, DDS, with Clinical Restorative Sciences at the University of Missouri – Kansas City at the 2017 Missouri Oral Health Policy Conference in Jefferson City, Missouri March 9-10.
MSNT Trust Specialist Mary Lou Hughes and Nebraska Bar Association Assistant Executive Director Sam Clinch attending the NSBA Annual Meeting in LaVista, Nebraska.
Executive Director, Kathy Birkes and Trust Specialist, Mary Lou Hughes at the 2016 Missouri Bar Annual Meeting in Lake Ozark, MO.
MSNT Trust Specialists Casie Stephens and Mary Lou Hughes at the Missouri Bar Annual Estate, Trust & Elder Law Institute on August 25-27, 2016 at the Sheraton Westport Chalet Hotel in St. Louis, Missouri.
MSNT Trust Specialist Mary Lou Hughes with Sara Weber, J.D., Director of Continuing Education for the Nebraska Bar Association at the Nebraska/Iowa State Bar Association’s Solo & Small Firm Conference on Aug. 11-13 at the Ameristar Hotel & Casino in Council Bluffs, IA.
MSNT Executive Director Kathy Birkes and Senior Trust Specialist Casie Stephens with Samantha Shepherd of Shepherd Elder Law Group, NAELA National Board member, immediate past president of MoNAELA, and former chair of the Missouri Bar Association Elder Law Committee at the Kansas NAELA conference on Kansas Medicaid: Helping Your Clients Navigate KanCare June 22.
MSNT Executive Director Kathy Birkes with MoNAELA Chapter Executive Diana Love, MoNAELA member Keith Brunstrom and VP and Senior Trust Officer at Blue Ridge Bank and Trust Co. Joe Flick enjoying a Royals win after the MoNAELA 2016 Summer Program: The Basics of Elder Law on June 17.