Does my child or loved one need a Special Needs Trust? That’s one common question we get and in this episode Annette discusses some of the myths surrounding special needs trusts.
Annette Hines and Attorney Mark Worthington of Special Needs Law Group based in Massachusetts sit down and discuss some of the top myths when it comes to this important legal tool for your special needs family. With the sophistication of the internet, there is a lot of information out there about special needs trusts and special needs planning. Not all of it is accurate, or applicable to your family.
First, Annette and Mark discuss the fact that there is more than one type of special needs trust. And what can these trusts pay for once they are funded? Is it true that they can only be used for medical or special needs expenses? They consider this question and a few others in this episode.
Although Special Needs Trusts are generally following Federal statutes and regulations, each state may have some differing interpretations. Annette and Mark discuss the general terms in which a trust can be created and ultimately used.
Most importantly, Annette and Mark discuss the benefits of creating a special needs trust for your loved one including when public benefits are available as well as inheritance assets.
Planning and leaving assets to your special needs loved one is an important part of planning for a bright future and Mark and Annette take you through this important topic!
More on this subject can be found here; https://specialneeds-law.com/special-needs-law/special-needs-trust-administration/