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Special needs trust (1 viewing) (1) Guest
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TOPIC: Special needs trust
#1253
francism (User)
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Special needs trust 6 Months ago Karma: 0  
Illuminate, what is a special (supplemental) needs trust? Is it recognized country-wide?
 
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#1254
manny_mandy (User)
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Re:Special needs trust 6 Months ago Karma: 0  
One permissive way of putting assets IN without affecting your SSI benifit is through supplemental needs trusts.
Special needs trusts allow a disabled beneficiary to receive gifts, lawsuit settlements, or other funds without having to lose the eligibility for certain government programs like SSI.
The funds held in the trust will not be considered to belong to the beneficiary, thus, will not affect its eligibility for any government benefits received or entitled to received.
 
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#1255
clan_law (User)
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Re:Special needs trust 6 Months ago Karma: 0  
Special needs trusts are designed to pay for comforts and luxuries that could not be paid for by public assistance funds.

Often, special needs trusts are created by a parent or other family member for a
child with special needs.

Such trusts also may be set up in a will as a way for an individual to leave assets to a disabled relative.
 
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#1259
Preston (User)
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Re:Special needs trust 6 Months ago Karma: 0  
are special needs trust only for disabled persons? These trusts hold money for a disabled person so that person can received welfare. Is that right? What if the beneficiary overcomes his disability and no long needs the trust, can the assets be distributed to him then?
 
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