Something that we are preparing to create for Charlie. A definition from Michael Davidov, Esq., in the April 30th Queens Courier:
A Special Needs Trust ensures that its beneficiary receives the benefit of assets transferred to the trust, while permitting the beneficiary to retain access to public government resources. Parents do not need to wait until their child turns eighteen before setting up a Special Needs Trust. Once the trust is established, the parents can place funds in the trust and the funds can be used immediately or stored for future use.
Under the terms of a Special Needs Trust, a Trustee …read more