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04-08-2008, 08:24 AM
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Junior Member
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Join Date: Mar 2008
Posts: 10
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Special needs trust
Illuminate, what is a special (supplemental) needs trust? Is it recognized country-wide?
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04-08-2008, 11:22 AM
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Junior Member
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Join Date: Mar 2008
Posts: 29
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Reply
One permissive way of putting assets IN without affecting your SSI benifit is through supplemental needs trusts.
Special needs trusts allow a disabled beneficiary to receive gifts, lawsuit settlements, or other funds without having to lose the eligibility for certain government programs like SSI.
The funds held in the trust will not be considered to belong to the beneficiary, thus, will not affect its eligibility for any government benefits received or entitled to received.
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04-10-2008, 06:29 AM
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Junior Member
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Join Date: Mar 2008
Posts: 10
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Good lights, Thank You.
If I may add, special needs trusts are there not to provide basic support, but to pay for things like medical or dental expenses, education beyond the necessities of life.
In addition, depending on the program, the disabled individual can create the trust himself.
Termed as self-settled trusts, that are established by individuals who become disabled because of an accident and later receive the proceeds of the injury settlement.
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09-27-2008, 10:29 PM
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Junior Member
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Join Date: Sep 2008
Location: Rochester, NY
Posts: 1
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How can a harmful supplemental needs trust be dissolved?
When the supplemental needs trust found in someone's will is certain to be highly inappropriate and literally harmful rather than helpful to a beneficiary whose mental disability has been seriously misjudged, is there any way in which the trust can be prevented from being set up, dissolved, or dissolved in effect through asset depletion in such a way that the beneficiary would immediately receive all of the assets of the trust outright (as the wording of the will clearly indicates would have happened if his mental condition had not been severely misjudged), when there are no legal grounds for challenging the will as a whole, and the trust not only contains no explicit provisions for its dissolution if it should prove to be irrelevant, but also cannot be dissolved with the consent of all of the beneficiaries since the beneficiaries of the trust who will receive what remains of its assets when the primary dies (the remaindermen) cannot be identified at this time?
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09-28-2008, 04:52 AM
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Moderator
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Join Date: Sep 2006
Posts: 11,721
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Have you browsed through the information in LawInfo's Free Legal Resource Center to learn more about your issue yet? See: http://www.lawinfo.com/consumer.html. You can certainly try to speak to a lawyer to determine what legal options may be available. In the meantime, you may be able to learn more on your own. Search the "Free Legal Resources" tab, or browse the Consumer Resources. Good luck.
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