Special Needs Trust
- What is a Special Needs Trust?
- When Might A Special Needs Trust Be Created?
- If having money will cause problems for my disabled child, can't I just leave that money to his brother and sister and ask that they look after their sibling?
- What government benefits can be coordinated with a Special Needs Trust?
- Does the existence of a Special Needs Trust qualify the beneficiary for public benefits?
- What is a "supplemental benefits" trust?
When might a Special Needs Trust be created?
It is very common for parents to create a Special Needs Trust as a means for holding assets to benefit disabled children after the parent’s death. The Special Needs Trust is an estate-planning tool of choice for those parents. Additionally, the disabled or chronically ill individual may at some time during his or her lifetime come into funds from third party sources which could include personal injury settlements, bequests from relatives or friends, Social Security or other types of insurance back payments, and the like.