What is an irrevocable special needs trust?

Related Ads

Question:

What is an irrevocable special needs trust?

Answer:

Special needs trust are trusts designed to improve the quality of life of a person with special needs, without affecting that person’s eligibility for government benefits.  To be effective, a special needs trust must be irrevocable.  This means that after you sign it and have it notarized, you can’t revoke it, and you can amend or terminate it only under specific circumstances provided for in the trust itself. If you wish to completely change a special needs trust, you simply create another one and amend your estate planning documents to leave assets to the new special needs trust so that the original trust is never funded.

Learn more about how Special Needs Trusts work on Nolo.com.

 

Create Your Estate Plan

WillMaker

Get Started with Quicken WillMaker Plus!

Everything you need to create a complete estate plan:

Write a legally valid will

Avoid probate with Nolo's Living Trust

Create a health care directive

Create a durable power of attorney

Prepare executor documents

Save on attorneys fees

Find an Estate Planning Lawyer

Need professional help?
Enter your zip code to find an estate planning lawyer. (e.g., 10110)
LA-NOLO4:DRU.1.6.4.20141222.29342