If you have been researching about securing the future of your children with special needs, spending a lot of time with other parents who are in a similar situation as yours or reading various articles about estate planning for special needs, you must have gotten the idea of putting a portion of your estate in a special needs trust (SNT).
A special needs trust or a supplemental needs trust is a trust that holds assets for the benefits of a disabled beneficiary and allows them to enjoy it in their time of need. The beneficiary also gets to benefit from government benefits that are needs-based.
With a SNT, you don’t have to worry about your child with special needs to lose any necessary services because of not being able to fulfill some specific income requirements. Here are some basic tips to start a supplemental needs trust for your children: