special needs trust
Please explain what a Special Needs Trust is. Thank you.
Asked on 12/12/03, 1:38 pm
2 Answers from Attorneys
Re: special needs trust
A special needs trust is a trust that is set up for someone who has a disability and has received money (usually through an inheritance or judgement/settlement of a lawsuit). A special needs trust is usually created so that the disabled individual does not lose his/her Medicaid eligibility and benefits.
Answered on 12/12/03, 1:51 pm
Re: special needs trust
In addition to my previous reply, I should also add that special needs trusts can be used in the case of an elderly person who is receiving Medicaid benefits as well.
Answered on 12/12/03, 1:57 pm
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