I will discuss 3 types of trusts over the next 3 days that would be considered for a disabled family member. The first trust to discuss is the third-party funded trust. This is a trust in which funds of one person are placed in a trust for the benefit of another person. In this case, the benefitted person would be the disabled family member.
A third-party trust, if properly established, will not affect the public benefits of the disabled family member nor will it be necessary to reimburse the state for medical assistance provided to a disabled family member. Such trust must allow the Trustee full discretion in the distribution of the funds available in the trust.
Contact our offices at http://www.ythlaw.com/ expert advice and document preparation to meet your estate planning needs of a disabled loved one.
A third-party trust, if properly established, will not affect the public benefits of the disabled family member nor will it be necessary to reimburse the state for medical assistance provided to a disabled family member. Such trust must allow the Trustee full discretion in the distribution of the funds available in the trust.
Contact our offices at http://www.ythlaw.com/ expert advice and document preparation to meet your estate planning needs of a disabled loved one.
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