QUESTION

How to set up a special needs trust using bonds in the name of the special needs individual.

Asked on Aug 21st, 2014 on Trusts and Estates - New Jersey
More details to this question:
My grandmother (now deceased) left bonds in my sisters name My sister is special needs. A trust needs to be developed to ensure her future needs. How is this done? Thanks for your help!
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
This is very complicated and will require you to hire a lawyer.  If your sister is disabled you might want to consider doing a gaurdianship, and having the court order the Special Needs Trust to be created as part of the guardianship.  The bonds cannot be in her name if she receives Medicaid or SSI as they will make her financially ineligible.  You will also need guidance on what can, and cannot, be done with the money in the trust.  If you are in the Monmouth or Ocean county areas, feel free to give me a call.
Answered on Aug 25th, 2014 at 6:21 AM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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