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I have three children and one is an incapacitated adult child. I would like to prepare a will that leaves my house to the three children but puts one-third of the house in a special needs trust to benefit my child with disabilities. Is this even possible? I believe a house (and other assets) can be left to an irrevocable third-party special needs trust, but can the house be left to the trust as one-third owner with two other siblings? Thank you.
Does a gift of $14,000 this year to a special needs trust (SNT) qualify for the annual gift tax exclusion?
A divorced couple has separate special needs trusts (SNTs) for their two special needs adult children. The father has one trust for each beneficiary and the mother also has one trust for each beneficiary. The father does not want the mother to contribute to the trusts he has set up. Will this cause legal problems?
When an SSI beneficiary loses his government assistance, how do you cash out his special needs trust?
If a special needs trust owns the house that the trust beneficiary lives in, who pays for the home expenses -- the trust or the beneficiary?
We have a brother with special needs -- a documented intellectual disability -- who works full time and does not receive benefits. Our father just died and we have money coming, but he did not include our brother in his estate plan. Are we legally able to set up a trust from our inheritance for the benefit of our brother?
Can a special needs trust pay for the beneficiary's doctor-prescribed special diet?