Special Disability Trust
Special Disability Trusts (or SDTs) are specific types of trusts which have been established to comply with certain provisions in the Social Security Act 1991 and the Veterans’ Entitlement ACT 1986 (since 20 September 2006). Such trusts attract social security means test concessions for the sole beneficiary (who must be assessed as “severely disabled” under the legislation) and any eligible contributors. An SDT can be a testamentary trust established through a will.
The purpose of such a trust (apart from receiving the means test concessions) is to assist immediate family members and carers who have the financial means to do so to make private financial provision for the current and future care and accommodation needs of a family member with a severe disability.
If you would like more information on trust structures and the most appropriate for your situation, please click here to submit an online enquiry form or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment.