SPECIAL NEEDS TRUSTS PART 1
by Thomas D. Begley, Jr., Esquire, CELA This is the first article of a two-part series on Special Needs Trust. INTRODUCTION In the course of protecting our client’s eligibility for important public benefits, which often make a huge difference in their quality of life, attorneys are called upon to draft and assist…
KEY ISSUES TO BE CONSIDERED IN SELECTING THE PROPER TYPE OF TRUST
by Thomas D. Begley, Jr., Esquire, CELA The key issues that must be considered in drafting a trust involving Supplemental Security Income (SSI), Medicaid or other means-tested public benefits are availability, transfer rules and payback requirements. Availability Whether or not a trust is available depends on the discretion given to the trustee. Under…
ANALYSIS OF SPECIAL NEEDS TRUSTS
by Thomas D. Begley, Jr., Esquire, CELA Purpose The purpose of a Special Needs Trust is to enrich the life of the disabled beneficiary while maintaining the beneficiary’s public benefits, especially SSI and Medicaid. POMS Considerations When Drafting a Special Needs Trust Drafting a special needs trust requires designing it in a manner…
ANALYSIS OF A POOLED TRUST
by Thomas D. Begley, Jr., Esquire, CELA Purpose The purpose of a Pooled Trust is to ensure that the trust assets are used to enrich the life of the disabled person while maintaining vital public benefits. Trust Design A Pooled Trust must be established and managed by a non-profit organization. They are authorized…