Fortunately, a planning vehicle known as a Special Needs Trust (SNT) can provide parents with a financial backstop for ongoing supplements for their children’s care without jeopardizing eligibility for governmental assistance. Why Set Up a Special Needs Trust? For parents with a disabled child, establishing a third-party special needs trust is a common solution. An important difference between third-party special needs trusts and self-settled special needs trusts is the control of the assets after the death of the beneficiary. In these trusts, assets from several different sources are combined and invested together.

Source: Forbes December 17, 2018 20:37 UTC