Legal Question in Wills and Trusts in Massachusetts

Set up a Trust for a mentally handicapped family member

My wife's family (5 siblings) recently received the small proceeds from the estate of their father. They want to pool these into an account for one of the five siblings who is mentally handicapped so that he can have periodic access to money in the event of emergency or needed expenses. He is currently on SSI and Medicaid and any assets in his name may jeopardize his eligibility.

I would like to set up an irrevocable trust with the handicapped sibling as the beneficiary and one of the other siblings as the trustee. I would like the trust to stipulate that, upon the death of the beneficiary, that the proceeds would be equally distributed to the surviving siblings.

Can someone please advise the steps necessary to set this up in the state of Massachusetts?

Thanks

Pete


Asked on 7/13/03, 9:48 am

1 Answer from Attorneys
Patricia Joyce Law Office of Patricia M. Joyce

Re: Set up a Trust for a mentally handicapped family member

You should speak with an attorney to set up a Special Needs Trust. This sort of funding is appropriate for people receiving Medicaid and other federal/state assistance as long as it is not used for basic needs, such as food and shelter. It can be used only for items that Medicaid, etc. does not cover.

I hope this information is helpful. Please feel free to contact me if I can be of further assistance.

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Answered on 7/13/03, 11:45 am


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