Questions & Answers

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Question

Who Is Responsible If the Trustee Abandons His Duties?

My trustee claims that I insulted him in an email, which I did not. I believe he does not want to have to file income taxes on a special needs trust and used this as an excuse to bow out of his role as trustee. He informed me that he has taken all the files relating to the trust and sent them back to the trust's creator. I don't know if he did this or not because the trust's creator is my father (and also the trustee's father), and he is 92 and quite ill and was not well enough to talk on the phone.  What can I do? If the trust becomes delinquent in taxes or other matters, who is responsible for the financial loss?  I am really not capable of straightening this out myself.

VIEW ANSWER | TAGS: , Ask a Question, Special Needs Trusts
 

Question

Can I Leave One-Third of My House to a Special Needs Trust?

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.

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Question

Will a Contribution to an SNT Qualify for the Gift Tax Exclusion?

Does a gift of $14,000 this year to a special needs trust (SNT) qualify for the annual gift tax exclusion? 

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Question

Will a Divorced Couple’s Separate SNTs for Their Children Cause Problems?

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?

VIEW ANSWER | TAGS: Special Needs Trusts
 

VIEW ANSWER | TAGS: Special Needs Trusts
 

Question

If a Trust Beneficiary Loses SSI, How Do You Close His Special Needs Trust?

When an SSI beneficiary loses his government assistance, how do you cash out his special needs trust?

VIEW ANSWER | TAGS: Special Needs Trusts, SSI and SSDI
 

Question

Who Pays for the Expenses on a House Owned by a 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?

VIEW ANSWER | TAGS: Special Needs Trusts, SSI and SSDI
 

Question

Can You Set Up a Special Needs Trust for Someone Who Doesn't Receive Government Benefits?

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?

VIEW ANSWER | TAGS: Estate Planning, Special Needs Trusts