Special Needs Trust

What is a special needs trust?

A special needs trust is created to provide financial support to a person with serious mental or physical problems without undermining the person's ability to qualify for government benefits such as supplemental social security and medicaid.

Who creates the special needs trust?

Oftentimes parents create the special needs trust for their child with serious mental or physical problems. But anybody who cares about the welfare of such a person may create the trust.

Who controls the trust assets?

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The person creating the trust can name anyone as trustee or successor trustee, except the beneficiary with the special needs. The beneficiary may not control the assets or be able to revoke the trust.

The trustee may spend the trust income and the principal on behalf of the special needs beneficiary.

Why does the special needs trust not count against government benefits?

If the special needs trust is properly prepared, then the trust assets are not considered to be owned by the beneficiary.