Should I consider making a special needs trust if my loved
one doesn’t receive government benefits?
While many people make special needs trusts to improve
the quality of life for a loved one without affecting that person’s eligibility
for government benefits, it’s worthwhile to consider making a special needs
trust for a person who has special needs, even if that person doesn’t receive
For example, if your loved one doesn’t qualify as “disabled”
but has mild developmental disabilities, mild autism, attention deficit
disorder, or bipolar syndrome – or maybe just isn’t able to manage his or her
own finances -- a special needs trust can help by assigning a qualified person
to manage and spend trust assets.
Trusts like this that are designed to keep assets out of the
hands of a beneficiary (and of his or her creditors) and in the firm control of
a wise trustee are often called “spendthrift” trusts.
Learn more about Spendthrift
Trusts or Special
Needs Trusts on Nolo.com.
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