Trusts are created by individuals or entities for the purposes of setting aside property or…
On Wednesday, September 9, The Special Needs Trust Act was passed! The passage of this legislation establishes liberties for persons with disabilities which had been previously denied to them.
Prior to passing the Act, only a parent, grandparent, legal guardian of the disabled individual, or a court could establish a special needs trust on behalf of the disabled individual.
Under the new Act, individuals with disabilities who have the capacity, can create their own special needs trusts.
Special needs trusts are created with the intent of supplementing a disabled person’s income in order to pay for wants and needs not covered by government benefits. The trust usually covers things such as:
- Recreation; and
- Uncovered medical care.
Because the assets would never be owned directly by the person, someone who is a trust beneficiary of a supplemental needs trust can still receive benefits from government programs such as Supplementary Security Income and Medicaid.
Help empower persons with disabilities with responsibility for their own life decisions. Contact your representatives in Washington and support the Special Needs Trust Fairness Act today!