The main purpose for creating a special needs trust (SNT) is to preserve public benefits for disabled and/or aged beneficiaries. Generally, public benefits that are “asset sensitive” are relevant to the planning of an SNT. There are a number of reasons for creating an effective SNT, some of which include:
- The statutes and regulations relating to public benefits law are difficult to find and extremely complex;
- It is difficult to acquire authoritative advice on the subject matter; and
- SNT law may change during the term of the SNT (as it has in the past).
To read the rest of this article, click here to download a PDF copy.