If you have already established a “third-party special needs trust” for your child – that’s the one that will receive her share of your estate when you pass away – congratulations. Now it’s time to set up a “self-settled” special needs trust. This trust will be a depository for any of your child’s own...
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Afraid That You Don’t Have Much of an Estate to Leave to Your Disabled Child?
Many parents worry that when they die their estates will be too small to provide much care for their disabled child. One solution is to purchase “second-to-die life insurance.” These policies are relatively inexpensive, and the company pays the death benefit only after both of the people insured have died.
Usually purchased by spouses,...
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A Family Only Needs One Special Needs Trust
Have you set up a Special Needs Trust (SNT) to receive your disabled child’s share of your estate when you die? Are there other family members who might also want to leave something to your disabled child, for example grandparents or a doting uncle? Or even non-family members, such as god-parents or very close...
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