PURPOSES OF A SPECIAL NEEDS TRUST
If you are a professional trust officer and assuming, for the first time, management of a trust for a special needs beneficiary, becoming informed of the public benefits rules/regulations is critically important. Understanding the basic purposes of a special needs trust, its value and limitations, is also very important. For an initial overview, we suggest you review this article on Supplemental Needs Trusts.
ADDITIONAL INFORMATION:
Click on the topics below for additional information:
CONSIDERATIONS WHEN AN SNT BENEFICIARY RELOCATES TO ANOTHER STATE
Sometimes a disabled special needs trust beneficiary will be required to move out of state to be near a sibling or other family member, due to the death of the person’s parents and caregivers. Since Medicaid is a federal/state program, each state is permitted to have a say in some of the provisions of its Medicaid policies. Thus, not all of the states have the exact same Medicaid rules/policies. An Oklahoma trustee cannot assume that a beneficiary moving to a sister state will be bound by the same Medicaid rules as would apply to an Oklahoma resident. Therefore, it is always wise for a trustee to consult with a local attorney qualified to answer questions dealing with special needs trusts and the Medicaid rules that might apply to that beneficiary moving into that state. We suggest that the trustee contact the National Academy of Elder Law Attorneys for a reference to a local attorney in that particular state.
Click on the topics below for additional information:
- Where can I find a list of speaking engagements that might provide additional useful information?
- Supplemental Needs Trusts
- The Pros and Cons of Guardianship of a Disabled Adult Child
- Making Medical Decisions for Someone Else: A How-To Guide
- Lifecare Transition Planning
