Do you have a child, relative or friend that is receiving government benefits? If they receive any type of inheritance this may disqualify that person from receiving government benefits leaving them with a small inheritance with no help from the government. A special needs section in your trust can provide for someone receiving government benefits by giving the trustee full discretion regarding how much that person should receive in order to maintain government benefits. A special needs section in your trust can be a separate trust specifically made for the person receiving government benefits or it can stem from your trust providing for that person individually apart from other beneficiaries. Leaving an inheritance to someone with special needs may actually be a hindrance to their care unless a special needs trust is created protecting that person’s best interest.
Related Post
Business and Charitable EntitiesBusiness and Charitable Entities
Here is an idea of the different type of business and charitable entities that you can setup. Typically, we suggest that you get a Revocable Living Trust which will hold
The Federal Estate Tax Law has changedThe Federal Estate Tax Law has changed
If you have an AB living trust find out why it should be amendment to save money: 1. The law used to say you could give away $600,000 without Federal