How do I set up a special needs trust?

Creating a special needs trust (SNT) is an important step to ensure the financial future of a loved one with special needs. It allows for the preservation of money and assets to provide for the care of the individual. In California, an SNT is established when an individual sets aside money or assets for the benefit of a disabled or incapacitated loved one. The process for setting up a special needs trust in California is as follows. First, you will need to create a trust instrument, which is a legal document describing the details of the trust. This document should include the terms and conditions of the trust, the name of the trust, who the beneficiaries are, and the purpose of the trust. Next, you will need to fund the trust, which means transferring assets into the trust. Assets can include cash, investments, real estate, life insurance, and other items. Finally, you will need to appoint a trustee to manage the trust. This person must be over the age of 18, have no interest in the trust as a beneficiary, and be able to manage the trust funds properly. Be sure to consult with a qualified attorney in order to properly set up your SNT. They will be able to advise you on the legal aspects of creating a trust and ensure it meets the requirements of the laws in California. Additionally, you may want to seek the counsel of a financial adviser in order to determine the best way to fund and manage the trust.

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How do I set up a special needs trust?

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