Submitted by Tangier on Mon, 08/03/2009 - 17:21
My grandson has special needs (severe autism). He's doing well at his school but, for him, this will be a life-long battle. What is the best way for me to leave money for his care? I assume a trust would work?
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Editor's Response
Yes. Fairly complicated stuff, but you should find a MA lawyer with estate planning experience and talk to her about a Special Needs Trust. A common problem that family members run into in these situations is that, if the child is receiving federal or government benefits that are needs-based (like SSI or subsidized housing), leaving him a significant inheritance may disqualify the child from receiving those benefits. A Special Needs Trust avoids this problem because, like a Spendthrift Trust, it places control of the money in the hands of a trustee who distributes the money to the child (or those providing goods or services to the child) as expenses arise. The child (or adult when he reaches 18) does not control the money or how much 'income' he gets from the trust, so neither the assets in the trust nor the limited income he receives from it will impact the determination of his eligibility for government assistance. Hope that helps.