A Special Needs Trust can be established during the lifetime of the caregiver, as well as, through the last will and testament. The trust becomes effective when it is signed and notarized by the grantor (the person creating the trust). A tax identification number is required from the IRS. Then a bank account can be opened with a minimum deposit. After that, the trust can be funded through a variety of estate planning tools.
Topics covered in this report include:
- Defining Special Needs
- What is a Special Needs Trust?
- Categories of Special Needs Trusts
- What Type of Trust do I Need?
- How is a Special Needs Trust Established?
- Who is the Trustee of a Special Needs Trust?
- How to Fund a Special Needs Trust?
- Pooled Special Needs Trusts
- A Third-Party Special Needs Trusts