A recent Wall Street Journal article about special needs planning features several important tips from Academy of Special Needs Planners Co-Founder Diedre Braverman, along with other important information about special needs trusts.
The Journal article emphasizes a point that we have discussed before - when you have a child with special needs, a special needs trust may be the best way to secure his or her future and gain access to vital government benefits.
In the article, Attorney Braverman explains that while it is vital to set up a special needs trust, a parent may not have to immediately give up full control of the trust or the trust funds while he or she is still living. Attorney Braverman also cautions against setting up a trust and funding it without seeking the advice of an attorney who is very familiar with the intricate tax regulations that apply both to special needs trusts and to people with special needs and their families.
The article offers many other helpful suggestions for parents of children with special needs, including a list of things to consider when choosing a trustee for a special needs trust (for ASNP's suggestions, click here) and tips for ways to build a support network.
To read the full article in the Wall Street Journal, click here.
Article Last Modified: 03/16/2011© 2020 ElderLawNet, Inc.
