Legal Question in Wills and Trusts in New Jersey

Re: special needs trusts - regular trust - no aggreeable guardians

In the situation you describe, you really need a comprehensive consultation to help you with making the plans and choices you should make.

To answer some of your questions, the will itself appoints the people or institutions that will act on your behalf with respect to the trust.

Having willing guardians for your minor children is essential. If they do not want to serve or are unable to serve, your children might become wards of the state, and a court would appoint guardians and caregivers for them.You probably would want to avoid this at all costs. Do not count on unwilling guardians "changing their minds" later just because you have appointed them despite their telling you they do not want to serve.

For mentally handicapped children, I would urge you to investigate local agencies that provide non-institutional, community based living settings with the amount of support and supervision needed for the child's abilities, and with training and support to help maximize the child's abilities and quality of life. Once you have identified such providers, you may want to make arrangements for the care of your child in such a setting when you are no longer around to care for him or her.

It will be extremely difficult to keep your children together, given their different needs, unless you can identify close personal friends or family who will undertake this responsibility. It is important to assure any potential guardian that funds would be available for the care of your children through the trust or trusts you would establish.

Special needs trusts are meant to provide those things that entitlements programs (SSI, medicaid, etc.) do not provide, without disqualifying the beneficiary from those entitlements. Because the costs of health care and other such services might quickly use up the resources in a trust fund, it helps to keep the beneficiary eligible for the entitlements, but to provide funds, through a third party, whether an individual trustee or an institutional one, to pay (directly to the provider, not to the beneficiary) for such things as travel, gifts, personal care, entertainment, etc.

With a sizable estate, an institution will act as trustee, at a fee, of course. Some institutions are better suited for handling special needs trusts in a sensitive caring way.

You should consult with an estate planning attorney in your area who has experience with this special planning to assist you in developing your plan and selecting the people to carry it out on your behalf.

Re: special needs trusts - regular trust - no aggreeable guardians

You certainly have a lot of things that need to be dealt with in your will.

I could address each issue individually, but what you really need is to meet with an estate planning attorney. My suggestions may not do anything more than confuse you.

Re: special needs trusts - regular trust - no aggreeable guardians

You should consult in private with an attorney, who specializes in Trusts and Estates.

In your will, you will designate a trustee to administer the trusts. The trustee can be an individual or a financial institution. In selecting a trustee you should be mindful oft he fact that the trustee is entitled to commissions. An instution will seek to collect all the commissions to which they are entitled.

Daniel Clement

Re: special needs trusts - regular trust - no aggreeable guardians

This is a perfect example of a need for Estate Planning. Even though most people believe they want a "simple will" they need more. Having a handicapped child and guardianship issues, requires thinking and planning.

One problem with guardianship selection is one person may be good caring for the children and another with the financial assets. Why not have different people as guardian and trustees?

I hope this helps!

Ron Cappuccio

http://www.taxesq.com