Special needs trusts have highly technical terms and administrative requirements, and the rules governing them are complicated. A simple mistake on the part of the trustee could unintentionally hurt the beneficiary.
A layperson as the trustee of an SNT can hire an attorney to provide guidance and assistance and they may need to do so to satisfy their fiduciary duty and make sure the disabled beneficiary receives appropriate support. Attorney fees can be paid out of the trust.
Alternatively, an SNT can designate a professional trustee to oversee the trust. A professional trustee can increase trust costs, but a trustee who has experience with SNTs may be better suited than a family member to fulfill the trustee’s many important responsibilities.
We can assist with setting up an SNT and work with the trustee to meet their legal duties and maximize trust benefits. Call to discuss your goals and needs.
