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Types of Special Needs Trusts

There are essentially two types of special needs trusts: third party trusts and self-settled trusts. This article will discuss the features that are common to both trusts.  In addition, there are pooled trusts. Pooled trusts can be either third party or self-settled. The distinction between a third party special needs trust and a self-settled special…

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Utilizing Support Trusts for Litigation Proceeds for a Minor

Situations often arise where a minor plaintiff is receiving a significant personal injury award or settlement.  As a general rule, the proceeds are placed in an account with the surrogate of the county in which the minor resides.  To withdraw funds from the surrogate’s account, the parent must make an application justifying the reason for…

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Administration of a Special Needs Trust

1. PRELIMINARY MATTERS Administration of a Special Needs Trust is complex.  It is critical that distributions be made in such a manner that the beneficiary maintains public benefits.  The trustee must be aware of the rules pertaining to each public benefit program to which the beneficiary is entitled or may become entitled.  These benefits are…

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Reducing a Medicaid Lien

There are three ways to reduce a Medicaid lien.  These strategies can be used separately or in combination. Procurement Costs. Under New Jersey law,[1][SJR1] where a Medicaid recipient settles a case against a third party, the Medicaid lien can be reduced by attorneys’ fees and costs and expenses.  Many lawyers simply ask for and receive…

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