Practice Areas

• Medicaid
• Living Trusts
• Estate Administration and Probate
• Asset Protection
• Veterans Benefits
• Special Needs Trust

Blog

Special Needs Trust

• IMPORTANT REPORT EVERY SPECIAL NEEDS FAMILY MUST KNOW ABOUT ESTATE PLANNING
• Planning for your autistic child’s future can bring peace of mind
• Five estate planning mistakes made by parents with special needs children
• Could you benefit from a Special Needs Trust?

view all

News

• Many special needs children lack plans for lifetime of care...
  Posted on 4/17/2009
• Importance of Special Needs Trusts Highlighted by Non-Profit...
  Posted on 3/4/2009

view all

Library

Special Needs Trust

• Part 11 of 12 - Facts Every Special Needs Family Must Know About Estate Planning
• Part 12 of 12 - Facts Every Special Needs Family Must Know About Estate Planning
• Part 9 of 12 Facts Every Special Needs Family Must Know About Estate Planning
• Part 7 of 12 - Facts Every Special Needs Family Should Know About Estate Planning
• Part 8 of 12 - FACTS EVERY SPECIAL NEEDS FAMILY MUST KNOW

view all

Part 11 of 12 - Facts Every Special Needs Family Must Know About Estate Planning

Fact # 11 – Know how you are going to fund assets into your special needs trust.

When you discuss estate planning with your planner, you should bring the following materials and information to the meeting:

A list of all assets;
The identities of the person holding title to the assets;
The present value of the assets;
Any indebtedness or encumbrances upon those assets;
Information on all insurance policies, including (a) who owns each policy; (b) whose life is insured by each policy; (c) the face value of each policy; (d) the cash surrender value of each policy; and (e) the beneficiaries of each policy.

The designated beneficiaries on any assets, including contingent beneficiaries;
Copies of all financial documents, passbook savings accounts, IRA’s, C.D.’s etc., if possible.

For your convenience, Shields & Boris offers a fact finder that itemizes the above information. We provide this to our clients prior to our first meeting, and it can be a great tool in assisting you with organizing the above information.

A popular, relatively inexpensive and secure way to fund your special needs trust is through the use of proceeds from a life insurance policy on you, or if you are married, that pays out at the passing of the survivor of you or your spouse. This is important as funds are necessary when you and your spouse can no longer support your special needs child. By using a life insurance policy rather than investments, we can plan to have the exact proceeds necessary providing for your special needs child.

Special Report

Order our Pennsylvania Elder Law Attorney's Guide To Alzheimer's Care

See All

questions

Special Needs Trust

• Is there a difference between a special needs trust and a supplemental needs trust?

view all