The answer depends on what type of Special Needs Trust – a Third Party Special Needs Trust or a First Party Trust.
A third party trust, that is created to hold assets of another person for the benefit of the person with special needs, can be set up by anyone who is over the age…
There are two types of special needs trusts – one designed to hold assets gifted or bequeathed to a person with special needs from a third party (a “Third-Party Special Needs Trust”), and one designed to hold assets that are already deemed to be owned by that person with special needs (a “First-Party Special Needs…
If you have an existing special needs trust, moving to another state could require a change to the trust in order to comply with the rules of the new state. This applies to both first-party trusts (trusts funded with the assets previously owned by an individual with special needs) and third-party trusts (trusts funded with…
