How do I create a special needs trust?

Creating a special needs trust can help ensure that a person with a disability receives continued financial support. The trust will allow the person to maintain eligibility for state and federal benefits while still having access to the funds they need to meet their needs. In California, there are several steps you need to take to set up a special needs trust. First, you need to decide who you want to be the trustee of the trust. The trustee will be responsible for managing the trust and making sure that the funds are distributed correctly. Generally, the trustee must be 18 years of age or older and should be a person who is trusted to manage the trust responsibly. Second, you should meet with an attorney who is well-versed in disability planning law in California. The lawyer will be able to draft the trust documents and can provide advice about the trust’s compliance with state and federal laws. Third, you need to decide what assets should be included in the trust. You can include cash, investments, real estate, vehicles, and other personal property. Fourth, you need to make sure that the trust is properly funded. This can be done in a variety of ways such as through gifts, inheritance, or other transfers of assets. Finally, you need to make sure that all of the trust’s assets are properly invested and managed. This can be done with the help of a financial advisor. Creating a special needs trust requires careful planning and attention to detail. However, with the right legal and financial advice, you can set up a trust that will protect the assets of the person with a disability and ensure their continued financial support.

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How do I create a special needs trust?

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