These are the documents to be signed by all parties to create a Do It Yourself Special Needs Trust. The forms are also included in the Do It Yourself Special Needs Trust Kit, which includes instructions for use of these documents and additional guidance for creating your own trust.
Special Needs Trusts are an important part of estate planning for the parents of disabled children. They help protect the child’s eligibility for government benefits when you pass away, and can be a vital part of making sure your child has the resources to live a happy, healthy, and independent life after you’re gone. If you think that a Special Needs Trust would be right in your family’s situation, please fill out the form below to receive our Do It Yourself Special Needs Trust forms.
A special needs trust is a legal trust that allows you to put aside money for the benefit of your child, while ensuring that your child will still be able to get government benefits (e.g., SSI and Medicaid). If you set up a special needs trust, your child’s assets will not count toward the limits on assets that are imposed by these programs. The money in the trust can be used to provide things like education and training, transportation, entertainment, personal care attendants, and other items that are not covered by government benefits.
With the Do It Yourself Special Needs Trust forms, you can create your own trust without hiring an attorney, without having to figure out how to draft the trust yourself, and without having to worry about whether or not it will actually work. We’ve done all of that hard work for you! Just follow the instructions in our booklet and get started on creating your trust today.
Special needs trusts are most often created by parents using their own funds, but a grandparent or guardian can also create one. In some cases a settlement from a lawsuit can be used as the basis for a trust, as well as any other funds that do not come from the beneficiary of the trust.
For instance, sometimes we need to be sure that beneficiaries aren’t given a large sum of money at once, but that the money is doled out over time. A common example is when the beneficiary is a minor. You might want them to get their inheritance in installments instead of all at once because you know that they don’t have the maturity level to handle so much money at once. By having your trust fund give a little at a time as certain milestones are reached (such as graduating from high school or getting married), you can be sure that your estate will be spent wisely.
Another example of this kind of trust fund is one for an adult beneficiary who has special needs. That might mean physical limitations or mental limitations. A special needs trust makes sure that those beneficiaries will be taken care of financially without taking away their eligibility for government assistance.
Special Needs Trusts can be very complicated and expensive when they’re created through lawyers or other professionals. That’s why we created [company name]—to give people like you the tools to create a trust without spending an arm and a leg. But we don’t just leave you in the dark! We also have resources that will help you understand what we do, how to use it, and how to maintain it after you get started.
A special needs trust, also known as a supplemental needs trust, is a legal document created by a parent, grandparent, court or other individual for the benefit of an individual with disabilities. A special needs trust may be used to hold property for the benefit of a person with special needs. The purpose of this trust is to supplement government benefits (such as Supplemental Security Income and medical assistance) that the individual with disabilities receives.
Anyone can create a special needs trust. However, if you are creating this trust for your child or another relative who receives government benefits such as Supplemental Security Income (SSI) or Medicaid, it must be done very carefully so that your child will continue to receive these benefits. If you are not sure how or if receiving assets through an improperly written trust could affect your child’s continued receipt of government benefits, you should consult an attorney before setting up these documents.