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Special Needs Trusts
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by John B. Spencer, JD |
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My sister and her family came for a visit during the recent holidays. It is a special time for my entire family but presents us with some unique challenges.
My seven-year-old nephew is autistic. Autism, as many of you know, is a neurodevelopment disorder that makes it hard for my nephew to understand the environment around him. During our visit, my wife and I discussed how we can better support our nephew as he grows older and how we could help prepare the family for the day when neither my sister nor brother-in-law are able to take care of him. We decided to approach the family about establishing a Special Needs Trust (SNT) for my nephew.
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During our visit, my wife and I discussed how we can better support our nephew as he grows older and how we could help prepare the family for the day when neither my sister nor brother-in-law are able to take care of him.
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When we approached my sister regarding the Trust, the first question she asked me was “Why do we need to establish a Special Needs Trust?” I explained that an SNT is a resource that can provide funds for an individual with disabilities to pay for the expenses that parents normally would just reach into their own pockets to pay: dental bills, a plane ticket to visit family, a trip to the movies and supplemental therapy.
I explained that a properly drafted and executed SNT would supplement the basic support that my nephew would receive through various government programs. Most importantly, I explained that by establishing this Trust, money that she and my brother-in-law set aside for my nephew’s on-going care could accumulate and would not disqualify him from government benefits.
The main purpose of an SNT is to insure that the beneficiary (in this case, my nephew) is able to remain on governmental programs that pay for basic needs like food, shelter and medical care while providing a reserve fund for the beneficiary’s supplemental and “quality of life” needs.
Typically, these Trusts are set up with some initial funding. Later, my sister, other family members and family friends can make contributions to the trust. Family members can draft their Wills to leave gifts directly to the SNT so that an inheritance will not disqualify my nephew from receiving government benefits in the future.
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An attorney can help navigate the complicated and state-specific rules that apply to Special Needs Trusts.
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There are different types of Special Need Trusts that can be established depending on the circumstances of the Trust’s beneficiary. It makes sense to consult an attorney with specific experience in drafting Special Needs Trusts. An attorney can help navigate the complicated and state-specific rules that apply to Special Needs Trusts and the tax implications of the Trust.
My nephew is often frightened and confused when there are changes in his environment. His familiar routine is a source of great comfort to him. By establishing an SNT, we feel confident that we will be able to maintain the regularity of his environment and the people in it.
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Family Business
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Come to see our new space in Suite 650 of the 100 Galleria Building. Join us for a cocktail reception and open house on Thursday, February 10th from 4:00 - 8:00pm. Please RSVP to Michelle Allen at 404/843-0121 or mallen@hurleyeclaw.com. |
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 Miles Hurley
Miles Hurley is the founding partner of Hurley Elder Care Law, which was created to provide comprehensive legal solutions for families with age- related events.
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