Can a Person with Special Needs Establish His Own Trust?
As of December 30, 2016, individuals with special needs who have capacity can establish their own special needs trusts. See 21st Century Cures Act, P.L. 114-255, Section 5007 (2016). Previously, first party self-settled special needs trusts could only be created with...
Types of Illinois Adult Guardianships
Illinois law permits several different types of adult guardianships. Guardianships protect people with special needs by allowing guardians to make financial, legal, and logistical decisions for them. Guardianships are supervised by the probate court, which appoints a...
Who Can Make Decisions for a Minor Child with Special Needs?
If you are in the position of making decisions for a minor with special needs, you may wonder who besides you can make these often-difficult decisions. Generally, parents are the only ones who can decide things for their children. If a child has a guardian in lieu of...
Pros and Cons of Using a Bank as a Trustee
When forming a special needs trust for your child, you may wonder whether using a bank as a trustee or other professional individual or entity is a good idea. An “institutional trustee”, which is called a corporate trustee, refers to a bank or trust company that...