Special Needs Trusts: Protect Your Child's Financial Future

by Elias, Stephen; Urbatsch, Kevin

• ISBN13: 9781413318159
• ISBN10: 1413318150
• Edition: 5th
• Format: Paperback
• Copyright: 2013-04-30
• Publisher: Ingram Pub Services

Summary

Create a special needs trust for a loved one's care and get peace of mind If you care for a child or other loved one with a disability, you've no doubt thought about what will happen when you're no longer able to give that care. Fortunately, there's a simple solution to this dilemma -- create a "special needs trust." Special Needs Trustsshows you how to leave any amount of money to your disabled loved one -- without jeopardizing government benefits. It provides plain-English information and forms that let you create a special needs trust by modifying your will or living trust document. Funds in a special needs trust can make a big difference in quality of life by paying for: . annual independent check-ups . personal care attendant or escort . vehicles and transportation . insurance . rehabilitation . essential dietary needs . materials for recreation . trips or vacations . entertainment . athletic training or competitions . and much more. Special Needs Trustsalso provides a formal letter to the trustee, which explains this very important role, and a personal letter to the trustee, which provides crucial information about your loved one. This edition has been thoroughly revised to reflect the latest changes in the law, including updated eligibility requirements for government benefits, current resources, and an experienced perspective about when to make a special needs trust on your own and when to seek the services of an attorney. Forms are available to download at nolo.com.