Special Needs Trusts

A good special needs plan involves many key players, including a guardian, a health care proxy, an executor, a trustee and possibly a trust protector.  It’s a good idea to review these selections on a regular basis, because change is inevitable.

The choice of trustee is one of the most important decisions you'll make regarding your special needs trust. Here are five questions to keep in mind when considering who will serve in this crucial role.

Many parents have their retirement savings socked away in 401(k)s and IRAs.  There are ways for beneficiaries to avoid paying taxes on the funds prematurely, but when a beneficiary has special needs, things get thorny.

California attorney Michael Avenatti has been charged with stealing from the settlements of clients, among them a paraplegic who was waiting for Avenatti to deposit his settlement funds into a special needs trust (SNT).

Members of the extended family and friends can also make gifts to a special needs trust once it has been set up.

It is often necessary to modify a home in one way or another to accommodate a person with special needs.  But if the individual is the beneficiary of a special needs trust (SNT) and trust funds might be used to...

Yes, but be aware that a co-trustee can be held responsible for another co-trustee’s breach of a fiduciary duty. Thus, it is important that all co-trustees pay close attention to everything that is done in the administration of the trust.

It can be very easy for untrustworthy people to steal from a trust designed to benefit a child with special needs, as a recent case from Rhode Island illustrates.

When a family has more than one child with special needs, the last thing it wants is more complexity. At the same time, most families with multiple children with special needs are stretched financially and desperately need to preserve access...