Q. What is the Supplemental Needs Trust? A supplemental Needs Trust (SNT) is a Trust authorized by federal and state statutes specifically for a “disabled” beneficiary who is receiving or eligible for means tested public benefits. Q. What is a Trust? A Trust is an agreement involving three parties, Grantor, Beneficiary and Trustee. The Grantor creates…
What can be done to plan for long-term care, ensure that a health crisis or chronic illness will not erode an individual’s security and dignity, and provide for family and loved ones? As you might suspect, the answer is not simple. A careful analysis of each individual’s personal and financial situation must be done to formulate…
Many people consider transferring their home as part of the estate and/or long term care planning. When should the choice be transfer by deed to the children (with or without a reserved life estate) and when is the transfer to an irrevocable trust the better option? The short answer to the question is that…
Whether it’s an honor or a burden (or both), you have been appointed trustee of a trust. What responsibilities have been thrust upon you? How can you successfully carry them out? Do read the trust document. It sets out the rules under which you will operate, so you need to understand it completely. Do create…
