Special Needs Trusts

Most parents of children with special needs are well versed when it comes to their child's government benefits. What many parents don't often think about is the effect that their own estate plan can have on their child's benefits.

Special needs trusts (SNTs) can play an important role in helping families plan for children with special needs. Here are some of the most compelling reasons to speak with your attorney about establishing an SNT.

Beneficiaries of a special needs trust can still qualify for federal housing assistance programs like Section 8, but careful planning is required to avoid having benefits reduced or eliminated.

The trustee of a special needs trust (SNT) has all of the duties of any trustee, plus specific added responsibilities due to the special needs of the beneficiary. All trustees are responsible for: Appropriate investment of trust property Bookkeeping and accounting of...

The House of Representatives has passed a bill that would require health insurers to provide the same level of coverage for mental illness that they do for physical illness, but the bill differs sharply from a version passed earlier by...

Parents of children with special needs often want to direct required distributions from IRAs following their deaths into a special needs trust (SNT) for the child. But if the trust is not set up properly, the income tax consequences...

When care needs are significant or family members cannot be available, parents may wish to include instructions in a special needs trust for the trustee to retain a professional care manager.

A federal court in New York recently ruled that the state discriminated against people with mental illnesses by housing approximately 4,300 New York City residents in "adult homes."...

Workers who must pay for the care of a dependent relative, including a child with special needs, so that they can continue to work can get a significant tax benefit under a little-known provision of the Internal Revenue Code, the...