What is a testamentary special needs trust?

Question

What is a testamentary special needs trust?

Answer

A testamentary special needs trust is a special needs trust that goes into effect when the trust maker dies. There are two ways to put a special needs trust into effect – you can set it up and put it into effect while you are alive (an inter vivos trust), or you can set it up and have it go into effect when you die (a testamentary trust). In either case, after the trust goes into effect, in order to protect the beneficiary’s eligibility for government benefits, it must be irrevocable. So the advantage of making a testamentary special needs trust is that you can modify it while you’re still alive, because it hasn’t yet gone into effect.

Learn more about Special Needs Trusts on Nolo.com

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