You may have heard the terms "special" needs trust and "supplemental" needs trust and wondered what the difference is. The short answer is that there's no difference. Here's the long answer.
A common fear among beneficiaries or their families is that the trustee may not do what’s in the beneficiary’s best interests and that, if this happens, the beneficiary may not be able to do anything about it.
Over the past several years, crowdfunding and personal fundraising have become popular ways to raise money for people in need. Unfortunately, when crowdfunding sites are established for people with special needs who are receiving disability or medical benefits, even with...
The Special Needs Trust Fairness Act, a bill that would correct a decades-old error in federal law that prohibits people with special needs from creating their own special needs trusts, has passed out of the House Energy and Commerce Committee,...
A recent Massachusetts case illustrates why trustees of special needs trusts have to be very careful before making distributions for people receiving public benefits.
Trustees of special needs trusts are frequently approached by family members of trust beneficiaries who would like to be paid as caregivers for the beneficiaries. While the Social Security Administration (SSA) currently does not explicitly prohibit payment of family caregivers...
The Special Needs Trust Fairness Act, federal legislation that would allow people with disabilities to create their own special needs trusts instead of having to rely on others, has cleared a key Senate hurdle.
The financial planning steps a family takes when their child turns 18 establish the foundation for the child's support and well-being for the rest of the child’s life. Therefore, it is essential that parents take extra care when planning for...
Parents giving gifts to children will sometimes provide nothing to the child with special needs while giving substantial amounts to the child’s siblings. This planning strategy can lead to trouble, as a recent Wisconsin case highlights.
