What is a Special Needs Trust and Who Needs one?

For anyone who has parent, child or sibling with special needs that depends on you for financial assistance, creating or making provisions for a Special Needs Trust is critical for ensuring that if something were to happen to you that financial resources would be made available to them without jeopardizing their government benefits (SSI). Without proper planning, your dependent could inherit your assets, become disqualified from their government benefits and then be forced to spend their inheritance before they can re-qualify for those benefits. Setting up or making a provisions for a Special Needs Trust is the first step in making sure they can both receive their government benefits and financial assistance from your estate.