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.....
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