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New Jersey Attorney General Speaks on Structured Settlements and Special Needs Trusts

Structured settlements have long been used in connection with special needs trusts for persons with disabilities who receive personal injury settlements.  There are less often used in cases involving matrimonial settlements and in cases involving inheritances. A structured settlement is essentially an annuity that pays an injured plaintiff over time, rather than in a single…

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Pooled Trusts – Statutory Requirements

A self-settled pooled trust is defined as a trust containing the assets of an individual who is disabled that meets the six conditions discussed in the following sections. Disabled The trust must be for the benefit of a person with disabilities. Disability is defined by the Social Security Act § 1382c(a)(3). A person receiving SSI…

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2009 Revisions to the Social Security Administration POMS Relating to Special Needs Trusts

In January of 2009, the Social Security Administration (SSA) made a number of changes to the POMS relating to both first party and third party special needs trusts.  These changes affect the drafting and administration of Special Needs Trusts and drafting Court Orders establishing self-settled special needs trusts.  Pooled trusts are also covered in the…

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Distributions from Special Needs Trusts Relating to Medical Expenses

One of the most pressing needs for disabled beneficiaries is medical care. Medical Insurance It is crucial that the disabled beneficiary obtain some form of medical insurance.[1] Options include the following: Private Medical Insurance. Typically, the only source of private medical insurance at regular rates is through the parent’s coverage with the parent’s employer. Parents…

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