Special Needs Trust

Beneficiaries named in a trust are sometimes mentally handicapped or ill to the point that they are unable to fully comprehend the totality of what has been left to them in a will and/or trust. Persons who suffer from mental illnesses should not have to forego their right to enjoy the benefits left to them, and it is for this very reason that special needs trusts are often used. In order to ensure that these individuals have the help they need to financially manage the affairs that have been left to them, another individual is selected to monitor the proceeds.

A special needs trust is also referred to as a supplemental needs trust, and both work along the same lines. If you wish to bequeath assets, finances and the like to a person that may be mentally ill-equipped to responsibly manage them on their own, a trustee can be appointed to help. Property will be held by the trustee on behalf of the disabled person to whom the assets have actually been given. The complexities of this process will require guidance from a probate attorney who can ensure that the process is completed accurately.