QUESTION
How can I create a trust for special needs children?
Asked on Sep 01st, 2015 on Estate Planning - Oregon
More details to this question:
I am seeking information about the considerations for putting in place a trust for a special needs child.
9 ANSWERS
Probate Attorney serving New Orleans, LA
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James G. Maguire
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I have done these. There is language in the trust that is designed to prevent the person with special needs from losing government benefits.
Answered on Sep 03rd, 2015 at 5:04 PM
Edwin K. Niles
Special Needs Trusts are disfavored. Please make sure your lawyer is a specialist in this field.
Answered on Sep 02nd, 2015 at 5:44 PM
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Do not use self-help. Seek out a qualified estate planning attorney to assist you. This is opinion is solely based upon the facts presented in the inquiry. Additional facts may be important and may change the analysis. If you are uncertain, seek legal counsel. We are not your attorneys. This answer is being offered to assist you in determining if you need to retain legal counsel to assist you, not to resolve your issue through an email inquiry.
Answered on Sep 02nd, 2015 at 12:00 PM
Commercial Attorney serving Chicago, IL
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Ashcraft & Ashcraft, Ltd.
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A special needs trust is a specialized trust with required technical aspects and purposes. You should contact an attorney to discuss the full implications of a special needs trust.
Answered on Sep 02nd, 2015 at 9:54 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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The biggest problem in creating a trust that will function of many years is choosing a trustee who will administer the assets and make the payments for that time.
Answered on Sep 02nd, 2015 at 9:45 AM
Thomas Edward Gates
Special Need Trust have special provisions that must be included in the Trust document. It is critical to set-up the Trust or else it could be exposed to creditor claims. It can also be counted as a resource that must be used up before receiving public assistance.
Answered on Sep 01st, 2015 at 9:42 PM
Go to an attorney who does special needs trusts.
Answered on Sep 01st, 2015 at 8:24 PM
A trust is the correct way to go. You'd need to think about the proper person to be trustee and whether they'd be compensated.
Answered on Sep 01st, 2015 at 7:26 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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A special needs trust is a very specialized trust, and requires careful analysis of the beneficiary's benefits and needs. I recommend contacting a lawyer who does "elder law" to assist with this process.
Answered on Sep 01st, 2015 at 7:02 PM