Tag Archives: trustee

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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How to Involve Your Child with Special Needs in Future Planning

How to Involve Your Child with Special Needs in Future Planning

When you first start future planning for your child with special needs, he or she might be too young to get involved in the many decisions you have to make. As time goes by, your child may express strong preferences …
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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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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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Income Taxation of Special Needs Trusts, Part 1

Income Taxation of Special Needs Trusts, Part 1

In your future planning for your child with special needs, remember to consider income taxation of special needs trusts. If you set up a special needs trust (“SNT”) with another law firm, the attorneys may not have discussed how you …
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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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How Much Money Do You Need to Fund a Special Needs Trust?

How Much Money Do You Need to Fund a Special Needs Trust?

If you are thinking about forming a special needs trust, you may be wondering how much money you need to fund it. In truth, there is no way to know how much your child will need for the rest of …
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What Is a Letter of Intent?

What Is a Letter of Intent?

Advocates for people with special needs often talk about writing a “letter of intent” for your family member’s care. What exactly is a letter of intent? What should you include in your letter? Here are a few suggestions. Every letter …
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Risks of Leaving Your Estate to Your Special Needs Child’s Sibling

Risks of Leaving Your Estate to Your Special Needs Child's Sibling

When making your estate plan, be aware that there are substantial risks to leaving your estate to the sibling of your child with special needs. Sometimes, doing so seems like the least complicated solution – the sibling can use funds …
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