Any person that is a parent or guardian of a child with a disability is going to want to take steps to plan for that child’s future. One common vehicle used to plan ahead for a child with a mental or physical disability is a special needs trust. This instrument can be created by the child’s parents or guardians while they are still alive or there could be a provision in a person’s will that creates a special needs trust. The purpose of these trusts is to provide for a person with disabilities without putting at risk their eligibility for certain government benefits like SSI, Medicaid, or food stamps. This article discusses the things that parents need to know about creating a special needs trust.
See Teresa Mears, How to Draw Up a Special Needs Trust for a Child With Disabilities, U.S. News & World Report, November 4, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
