Special Needs Trust; advise/info,,,????

[FREEJ]

Hi All,,,,,

My inquiry is in regards to ''Trusts'', specifically a SNT--special needs trust; I'm sure many people here possess one and know about them to some degree. Currently, I'm in pursuit/process of getting one set up for me. [ Yes, I'm 20+ yrs post, but better late than never. ]

I ran a search on the subject here at CC, but came up with very little information at best. Also, I've been researching on the internet collecting info on SNT. As well,,,, I'm in contact with an attorney [ who does not handle SNT, but he is helping/guiding me in finding one.] I'm in NJ, he is in Texas, thus we're trying to find one here in NJ being that SNT are state specific.

Structuring a SNT is a very specialized area of law, and it should be done by an attorney with expertise in such. For we do know how consequences of an error can be extremely high.


I hope that those of you who A -- have one and B -- have been through the process of finding an attorney and C -- setting it up,,,,,,, Can give me any advice, information, suggestions.

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If there is anyone here from NJ, who has been through the SNT process and would like to share/recommend an attorney [ for consultation or execution. ], would really help me out. Please PM here at CC or em me; ''YOUR reply/info to me will respectfully be kept confidential.''




Any and all reply's are greatly appreciated,,,,,,,,,,

Thank you,
Freej :)

[prayer]

Curious that you posted this just now, b/c I just PM'd someone about this very subject recently. Chris doesn't have a SNT set up either and I have the same questions you do about this. Thanks for bringing it up.

[kkmay]

Too good to have one.

[rollinprincess3227]

All I can say is do a SNT. I have one,and its the best thing for me. im only 21 so if it wasent in a trust I wouldnt have my insurance and probably would by stupid things just cause. it really limits me.

[SCI-Nurse]

These are used extensively for people with developmental disabilities, so I would start there in your area. Contact the local chapter of The ARC (formerly the Association for Retarded Citizens) and see if they can't refer you to an attorney in your area who is familiar with these.

http://www.thearc.org

(KLD)

[Tim C.]

money can be dumped into and can only be withdrawn for specific purposes, ie; your care.
It gets a fed tax id # and taxes must be paid, but usually offset.
Get an atty's advice.

[LaMemChose]

Go with an attorney or attorneys who specialize in these. SNTs can cover everything from medical care not covered by insurance to personal care to housing and may even specify the number of vacations to be covered by the trust per year. SNTs can be very narrow in scope and stipulations for use of funds or more general and generous as to use.

You can learn about attorneys specializing in this area of law through your financial advisor (broker) or your city and state's bar association.

[kj24skedoo]

When asking your attorney about a"special needs trust also inquire about a"supplemental needs trust". They are two separate accounts. Its also non taxable, we have both for my son.

[Liz321]

we need a financial forum

[FREEJ]

Hey Thanks All,,,, for the reply's.

Hopefully some others will reply,,,,, There are a bunch of members that belong to CC, it would be good to hear from you:) .

Thanks,,,,
Free

[alan]

Could we have more details on the Supplemental Needs Trust, and how it differs from the Special Needs Trust? I'm going to need at least the latter to keep the house I'm living in.

[cheesecake]

Special Needs Advocate for Parents (SNAP) is a Quality of Life
grantee from the Christopher Reeve Foundation. They have a program that assists with both insurance as well as Special Needs Trust Funds. There is NO AGE restriction on getting assistance.

CRF funded their insurance empowerment program, which helps parents of special needs children to apply for and obtain coverage for equipment and/or special care (in-home nursing, etc.). They help parents with the initial application for such items or with appealing an insurance company's denial of such items. I believe they provide other types of services as well.

SNAP helps parents of both young and adult children.SNAP's founder is Nadine Vogel. She is the former head of MetLife special needs trust program and just recently opened her own company. They have a CA office. That number is 888-310-9889 and fax 310-201-9889. Their website is www.snapinfo.org/

[alan]

What questions do I need to ask my lawyer about my special needs trust (what little will be in it) after my mother passes? Such as what bills the trust pays (including cable and yardwork), and what it doesn't, how my mother should structure her will so what's in the trust will go to my sister, etc.?

Thank you,

[NoDecafPlz]

It does vary state to state.

You will need to do a search for lawyer familiar with these.

I wish there were a way around that, but there isn't.

They don't want the public to be too well informed.