Special Needs Trusts

While crowdfunding through such outlets as GoFundMe or Kickstarter can be a quick and effective way of raising money for a person with specials needs, it could also have a negative impact on the beneficiary’s access to government benefits.

You may be thinking about setting up a trust. Before you commit to a plan, make sure you understand the differences between the two basic types of trusts: a revocable living trust and an irrevocable trust.

Many people are getting ready to make gifts to family members, but gifts of cash or certain types of gift cards can compromise the eligibility for government benefits of a family member with special needs.

Among the many challenges for families is making sure there will always be enough money to provide lifetime care for special needs children.  One solution is to fund a special needs trust with life insurance.

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).

When parents ponder how to provide for their child with special needs, they sometimes forget one of the key advantages of a special needs trust. Members of the family and friends can make gifts once it has been set up.