How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask RayAnswers Your Own Question
RayAnswers, Lawyer
Category: Family Law
Satisfied Customers: 36331
Experience:  30 years as a family law lawyer .
Type Your Family Law Question Here...
RayAnswers is online now
A new question is answered every 9 seconds

WE are opening a Special Needs Trust for our handicapped ...

Resolved Question:

WE are opening a Special Needs Trust for our handicapped son. We will open with a small amount and when we die his inhertience will go into it. Where should we put this money? In the body of the Trust they ask for a State in several places. Is this the State where my son lives or the State where the trustee(s) live?
Submitted: 8 years ago.
Category: Family Law
Expert:  RayAnswers replied 8 years ago.
Thanks for your question. Special needs trusts are not something you mess around with. You need professional assistance to ensure that your trust is qualified with the state that you reside.

There are lawyers who write these and also preexisting preapproved trusts that you can also deposit funds in in small amounts. You need to check with these guys before you do anything here.

Special needs trusts are either right or they're wrong. A wrong one and you are not eleigible for medicaid/nursing home. A right one and you are still eligible and can have this money in trust.

Since your son is disabled it is doubley crucial to make sure you have a preapproved one in place before funding this. Here is an example of a preapproved one. ARC of Virginia will take the small amounts of funds and make a subaccount here for him under their preapproved master trust.

That way you are sure he remains eligible for government benefits. Check one of these out, there are probably others in Virgina.

I want to again reemphasize that you do not want to do anything here without legal input from some source. I read these every day on the other side of the fence and it is too easy to mess up if you do not know what you are doing.

The state will deny a bad trust from being income eligible. You have the right idea here, just be careful and make sure that you do it right. I'm not avoiding your actual question but I was afraid you were attempting to do this with a do it yourself form and you just don't want to go there in this situation. Good luck to you.....

Thank you and please click accept so that I may be paid for my answer to you. Thank you for using Just Answer.

Legal Disclaimer: The information given by me is for informational/research use only and you are paying me only for such information. The information contained herewith is not legal advice and by rendering such information there is no formation of an attorney-client relationship. I also do not claim to be licensed to practice in the state where this information is being provided. I strive to provide quality information, but I make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked herein and it's associated sites. As law is always changing, you are advised to speak with legal counsel for accurate information.
RayAnswers and other Family Law Specialists are ready to help you

Related Family Law Questions