What are the different types of Special Needs Trusts available in Texas?

There are three main types of Special Needs Trusts:

• First-Party SNTs: Funded with assets belonging to the person with disabilities, such as an inheritance or settlement. These trusts must comply with Medicaid payback rules.
• Third-Party SNTs: Funded by someone other than the beneficiary, like a parent or guardian, and are typically not subject to Medicaid payback.
• Pooled SNTs: Managed by nonprofit organizations, these trusts combine resources from multiple beneficiaries to save costs while maintaining individual accounts.