Tag Archives: Trust

Why Your Special Needs Trust Should Be a Separate Free-Standing Document

Why Your Special Needs Trust Should Be a Separate Free-Standing Document

When you decide to create a special needs trust for your child with special needs, you should ensure that the trust is prepared as a separate free-standing document. Some people think that creating SNTs in their wills or as part …
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Trusts: The Basics

Trusts: The Basics

People just beginning their future planning may hear many terms thrown around by their relatives and attorneys: trust, beneficiary, settlor, and more. For those unfamiliar with trusts, the many different words used to describe them can be quite confusing. This …
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When You Have No Estate Plan: Part 2

When You Have No Estate Plan: Part 2

Not having an estate plan could lead to serious consequences for your family in your absence. Future planning not only helps you move forward if you have a serious illness or if you are in need of money in the …
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When You Have No Estate Plan: Part 1

When You Have No Estate Plan: Part 1

When you have no estate plan, life changes could lead to personal and financial disaster. Future planning is all about planning now to save time, trouble, stress, and money in the future. If you are on the fence about creating …
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Picking the Right Professionals for Your Trust

Picking the Right Professionals for Your Trust

Trustees of special needs trusts often need to pick professionals to assist with trust management and oversight. With so many licensed professionals to choose from, how does a careful trustee find the “right” professionals? Consider a few basic guidelines. How …
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Trustee Fiduciary Duties, Part 2

Trustee Fiduciary Duties, Part 2

Trustees have fiduciary duties to beneficiaries of trusts that they oversee. The duty to account and the duty to invest and manage trust assets prudently are two very important fiduciary duties that are difficult for many family member trustees to …
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Can a Guardian or Trustee File a Lawsuit on Behalf of an Individual with Special Needs?

Can a Guardian or Trustee File a Lawsuit on Behalf of an Individual with Special Needs?

An individual with special needs may need a guardian or trustee to file a lawsuit on his behalf. If it makes sense to file a lawsuit under the circumstances, the individual with special needs or relatives will need to determine …
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Trustee Fiduciary Duties, Part 1

Trustee Fiduciary Duties, Part 1

Trustees have fiduciary duties in administering trusts. These duties arise from state law, including statutes and court cases. Fiduciary duties help ensure that a trustee best manages assets for the benefit of the trust’s beneficiaries. The duty of care requires trustees to …
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Payments from Non-Special Needs Trusts to People with Special Needs

Payments from Non-Special Needs Trusts to People with Special Needs

For people with special needs, receiving a payment from a non-special needs trust may have significant consequences. In fact, any unexpected payments can jeopardize a person with special needs’ eligibility for Supplemental Security Income (SSI) benefits, Medicaid, and other government …
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Expenditures from a Special Needs Trust

Expenditures from a Special Needs Trust

Families of individuals with special needs use special needs trusts to save for future expenses and protect eligibility for government benefits. Eventually, you or, in the case of 3rd party special needs trusts more likely the successor trustees, will need …
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Your Non-Special Needs Children May Need Estate Plans Too

Your Non-Special Needs Children May Need Estate Plans Too

If you are working on your family’s estate plan to protect your child with special needs, be aware that your other children may need to do some future planning too. As described in a previous blog article on our website, leaving your estate …
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Estate Planning for Your Extended Family

Estate Planning for Your Extended Family

When estate planning for your family’s future, don’t forget that extended family members may need to change their plans too if they want to help your child with special needs. This article described some common situations that arise when well-meaning relatives …
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