What is a special needs trust?

A special needs trust is a legal arrangement designed to provide financial support and care for people with disabilities or special needs in the state of Washington. The trust allows the trust creator (grantor) to provide for their loved one without interfering with their eligibility for government benefits programs such as Supplemental Security Income (SSI). The purpose of the trust is to supplement, not replace, existing government benefits programs. It is important to note that the trust assets are held for the benefit of the beneficiary, not for the grantor or beneficiary’s family. The trust is managed by a trustee, who is responsible for managing the trust assets and ensuring that the beneficiary’s needs are met according to the trust’s guidelines. The trust assets are not considered income by the government and cannot be taken away in order to pay for medical care or other expenses. However, the trust will pay for the beneficiary’s medical and other needs that are not covered by other available sources. It is important to note that the trust assets cannot be used for anything other than the intended beneficiary’s benefit, and any funds that are not used will be returned to the grantor upon the beneficiary’s death or if the trust terminates. The special needs trust is an important tool in protecting the financial wellbeing of people with special needs or disabilities. It allows grantors to provide for the needs of those they care about without negatively impacting their eligibility for government benefits programs, and ensures that the trust assets are only used for the intended purpose.

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