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Importance of Special Needs Trusts Highlighted by Non-Profit


Posted on Mar 04, 2009

Parents and caregivers of individuals with special needs have been reminded of the importance of special needs trusts and estate planning by the non-profit Good Shepard Legal Foundation (GSLF).  According to Census survey data, over 41 million Americans have some kind of disability, which is about 15% of the population over the age of 5.

 

With so many Americans living with disabilities, parents and caregivers must consider how their disabled loved ones will survive should they outlive those who provide their daily care and support.  One way to ensure the long-term needs of these children and adults is to establish a Special Needs Trust.

 

Special Needs Trusts can be set up to eliminate estate taxes, protect government benefits, and prevent court control of assets.  Caregivers should be reassured that these Trusts do not interfere with benefits like Medicaid, subsidized housing, Supplementary Security Income, or food stamps. 

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