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dec-15

Special Needs Trustee Selection

December 15, 2022

Trusts set up for loved ones with disabilities are typically supervised by the grantor (the individual who creates and funds the trust). However, it is crucial to choose a successor trustee who will continue properly managing the SNT to benefit the special needs individual. When selecting a reliable, honest, and capable successor trustee, there is much to consider since trusts often operate on the honor system unless there are egregious circumstances that the courts must address.

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nov-17

What You Should Know About Special Needs Trusts

November 17, 2022

Generally, a trust is created when a person or business manages property or assets on behalf of another party. The person or entity who manages the trust is known as the “trustee” and is entrusted with the responsibility of making decisions in the best interest of the person who benefits from the trust, known as the beneficiary. Trusts are advantageous because they provide the ability to place conditions on how and when your assets will be distributed when you die, reduce estate and gift taxes, and allow you to skip the lengthy and expensive probate process.

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Planning for a Disabled Family Member: Common Mistakes

July 21, 2022

Americans with special needs who are five years of age or older comprise the largest minority group in this country. The majority of federal and state benefits available to help persons with disabilities are needs-based, meaning income and assets are strictly limited and can often be misinterpreted, resulting in costly mistakes.

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