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Special Needs Trust Planning and Drafting

Recorded: April 19, 2018
Duration: 56 minutes
By Vincent J. Russo, J.D., LL.M., CELA, CAP, ElderCounsel Principal 

Special Needs Trusts (SNTs) are created for the benefit of beneficiaries with disabilities, who lack the capacity to handle their financial affairs. Such beneficiaries are typically eligible for government benefits and receiving assets, either by gift or inheritance (either outright or in a standard trust), could disqualify the beneficiaries from such entitlements. A properly drafted and administered SNT protects against this result – the beneficiary can continue to receive governmental assistance in spite of the trust’s existence. SNTs can also be used to protect a special needs beneficiary even when eligibility for governmental assistance is not of concern.

This webinar will discuss planning with SNTs for special needs beneficiaries. Drafting an SNT properly in the first instance will be discussed, as will administering it so that it remains effective throughout its term.

Practitioners will learn:

  • What an SNT is and the types of beneficiaries for whom such a trust may be appropriate
  • What the differences are between a self-settled SNT and a third-party SNT
  • How to properly draft an SNT, including certain specific provisions that are required
  • How flexible the terms of the SNT and the Trustee’s discretion can be
  • How an SNT must be administered in order to retain its efficacy
  • What requirements there are of the Trustee, including any accounting and other duties owed to the beneficiary or otherwise

CLE: 1 hour (California Board of Legal Specialization – Estate Planning)
Many states have strict restrictions on pre-recorded (also called on-demand or distance learning) courses. Please review your State Bar’s rules to determine if you are eligible to receive CLE for this course before viewing.

To receive your certificate of attendance, email the attendance code that is announced during the webinar to [email protected].

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