When It Comes To A Supplemental Needs Trust, Out of Sight Should Never Be Out of Mind
You’ve been a responsible planner for your family’s future, especially your child with special needs.
You’ve met with an attorney, set up a Supplemental or Special Needs Trust and you can breathe a sigh of relief. Your work is done, right?
Wrong.
Funding and forgetting about a Trust can be as detrimental as not forming one at all. And having one that isn’t properly written can render it completely useless.
Supplemental Needs Trusts (sometimes called Special Needs Trusts) allow people with mental or physical disabilities, or even people with chronic or acquired illnesses, to have unlimited assets held in Trust for their benefit. If you have a child, grandchild, or even a spouse with a disability, a Supplemental Needs Trust can ensure that they have the funds they need to maintain their lifestyle after you’re gone.