Special Needs Trust Attorney

If you have a family member with a disability you may need to consider a trust. A trust is a fiduciary relationship that includes three parties. The first party transfers property to a second party for the benefit of a third party.

A Special Needs Trust (SNT) is defined as a trust established in accordance with 42 U. S. C. 1396p(d)(4)(A) containing the assets of a disabled individual which is established and funded prior to the time the disabled individual reaches the age of 65, which established for the sole benefit of the disabled individual by a parent, grandparent, legal guardian of the disabled individual or a court and which may be excluded from the Medicaid rules regarding the treatment of a trust as long as it is written, managed and used in compliance with all Federal and State laws and regulations.

Special Needs Trust funds can be used for the special needs of the trust beneficiary. Funds must only be used for the sole benefit of the beneficiary.

The conditions an SNT must meet can be found in the New Jersey Administrative Code (N.J.A.C.) 10:71-4.11(g)1. Some of the special conditions include but are not limited to:

• Must contain assets of an individual. This can include assets gifted to the beneficiary but any and all assets must be deposited by the 65th birthday of the beneficiary.

• Must be irrevocable.

• Must be for the sole benefit of the trust beneficiary.

• Upon death of the beneficiary, Medicaid must be reimbursed pursuant to the N.J.A.C.

At Susan Clark Law Group we have personal experience with the legal operation of trusts so we can help you intelligently provide for your loved one”s financial security in the future.

Contact us at the Susan Clark Law Group at 732-637-5248 for a free consultation.
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