Special Needs Trusts: Pros, Cons, and FAQs

Caring for a special needs child is difficult, and making financial resources available to them without jeopardizing their qualification for government benefits programs is critically important, especially after the parents have died. A Special Needs Trust (“SNT”) is a means to provide that support.

Attendees will learn to identify circumstances where an SNT could be useful; the basic structure of an SNT and things to consider in creating the SNT; federal and state statutory guidelines and requirements for the administration of the SNT; and how an SNT might “fit” into a more comprehensive estate plan.

This program should be useful to attorneys in all practice areas who are not generally familiar with SNTs and/or estate planning. The material is intended to provide an introduction to the subject matter.

Learning Objectives:

• Define the different circumstances when an SNT might be useful and appropriate
• Analyze the basic structure of an SNT and the guidelines that must be followed to preserve the beneficiaries' eligibility for government benefits programs
• Highlight differences between federal and state statutory frameworks governing SNTs and state-to-state differences
• Use an SNT comprehensively with other estate planning documents
• Advise and represent trustees of an SNT

Production Date: 7/22/2024