QUESTION
How do I create a trust for special needs children?
Asked on Apr 22nd, 2011 on Estate Planning - California
More details to this question:
I am seeking information about the considerations for putting in place a trust for a special needs child.
3 ANSWERS
Trusts and Estates Attorney serving Jacksonville, FL
Partner at
Law Office of David M. Goldman PLLC
3 Awards
There are several ways to create a Special needs trust depending on your circumstances and the amount of money you want to put in them. Sometimes is is best to create them while you are alive and in others it may be better to create them testamentary (upon death). You should discuss your circumstances with a Florida Estate Planning Lawyer to determine what makes the best sense for you and the advantages or disadvantages of each based on your goals.
Answered on Apr 27th, 2011 at 6:48 AM
Theodore W. Robinson
Such a trust is created just like any other trust. It requires an attorney to properly prepare the necessary papers with the appropriate wording to establish the Trust, put in place a Trustee to handle the funds and specific terms and conditions under which the Trust funds will be released for the appropriate care for the child and when he/she becomes otherwise emancipated if there is an expectation of a continuation of the disability past the age of majority. Speak to an Estate planning attorney.
Answered on Apr 24th, 2011 at 5:39 PM
1 Award
Depending on your circumstances, you can either have a special needs trust drafted now if you anticipate funding the trust prior to your passing or you can have a provision for a special needs trust in your living trust or will if the trust is going to funded with assets from your estate. Contact your local estate planning attorney who has experience with special needs trusts.
Answered on Apr 24th, 2011 at 5:39 PM