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SPECIAL NEEDS TRUSTS

special-needs-trustsAssistance in Special Needs Trusts

SPECIAL NEEDS TRUST GENERAL OBJECTIVE: to show families ways to pass an inheritance to a child receiving public assistance without jeopardizing their eligibility for government aid.

The trust funds will be held under the aegis of a Special Needs Trust. The trust will be managed by a named Trustee. The funds therein will be used to supplement, but not supplant, the appropriate public subsidy programs.

With a Special Needs Trust, a client doesn’t have to

  • Disinherit a special needs child, and/or
  • Leave that child’s inheritance to a designated “straw person” who is under no legal obligation¬† to “do the right thing”.
  • Leave that child’s inheritance to a “straw person” who may have trouble with creditors or a rebellious spouse/significant other.
  • Leave that child’s inheritance to a “straw person” who doesn’t amend their estate plan to protect such funds on their passing.

In a Special Needs Trust, one can:

  • Name a trustee to oversee funds for the special needs child in your estate plan.
  • Leave instructions how the Special Needs Trust may be used to enhance lifestyle of special needs beneficiary without jeopardizing their eligibility for public subsidy.

Special Needs Trust as a Part of a Comprehensive Estate Plan

  • Special Needs Trust are used in addition to a Will or Living Trust.
  • A comprehensive estate plan may often include a Power of Attorney, Living Will, and Healthcare Directive in addition to a Will or Living Trust.