Special needs trust (original) (raw)
A special needs trust, also known in some jurisdictions as a supplemental needs trust, is a specialized trust that allows the disabled beneficiary to enjoy the use of property that is held in the trust for his or her benefit, while at the same time allowing the beneficiary to receive essential needs-based government benefits. A Special Needs Trust is a specific type of irrevocable trust that exists under Common Law. Several Common Law nations have established specific statutes relative to the creation and use of Special Needs Trusts, and where they exist a Special Needs Trust will not be valid unless it comports with the requirements listed in the statute. The applicable Federal statute in the United States is found at Title 42 United States Code Section 1396p(d)(4)(A). Several States have
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| dbo:abstract | A special needs trust, also known in some jurisdictions as a supplemental needs trust, is a specialized trust that allows the disabled beneficiary to enjoy the use of property that is held in the trust for his or her benefit, while at the same time allowing the beneficiary to receive essential needs-based government benefits. A Special Needs Trust is a specific type of irrevocable trust that exists under Common Law. Several Common Law nations have established specific statutes relative to the creation and use of Special Needs Trusts, and where they exist a Special Needs Trust will not be valid unless it comports with the requirements listed in the statute. The applicable Federal statute in the United States is found at Title 42 United States Code Section 1396p(d)(4)(A). Several States have established their own statutes. Generally, irrevocable trusts can be used for minors, beneficiaries with physical or mental challenges, and as a method of asset protection. In addition to the public benefits preservation reasons for such a trust, there are administrative advantages of using a trust to hold and manage property intended for the benefit of the beneficiary, especially if the beneficiary lacks the legal capacity to handle his or her own financial affairs. Special needs trusts may also be useful for people who are planning for possible future disability. (en) |
| dbo:wikiPageExternalLink | https://www.nssta.com/sites/default/files/library/2016/2016-10/StructuresAndSpecialNeeds.pdf |
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| dbo:wikiPageLength | 5962 (xsd:nonNegativeInteger) |
| dbo:wikiPageRevisionID | 1059956427 (xsd:integer) |
| dbo:wikiPageWikiLink | dbr:Beneficiary_(trust) dbr:Republic_of_Ireland dbr:United_Kingdom dbr:United_States_of_America dbr:Income_trust dbr:Inheritance dbr:Insurance dbr:Common_law dbr:Personal_injury dbr:Medicaid dbr:Assets dbc:Wills_and_trusts dbr:Trustee dbr:Social_Security_Administration dbr:Mentally_challenged dbr:Supplemental_Security_Income dbr:Structured_settlement dbr:Supplemental_needs_trust dbr:Official_Receiver dbr:Taxation dbr:Physically_challenged |
| dbp:wikiPageUsesTemplate | dbt:Wills,_trusts,_estates dbt:Reflist dbt:See_also |
| dcterms:subject | dbc:Wills_and_trusts |
| gold:hypernym | dbr:Trust |
| rdf:type | owl:Thing yago:WikicatWillsAndTrusts yago:Ability105616246 yago:Abstraction100002137 yago:Cognition100023271 yago:Faculty105650329 yago:PsychologicalFeature100023100 dbo:Organisation yago:Volition105652593 |
| rdfs:comment | A special needs trust, also known in some jurisdictions as a supplemental needs trust, is a specialized trust that allows the disabled beneficiary to enjoy the use of property that is held in the trust for his or her benefit, while at the same time allowing the beneficiary to receive essential needs-based government benefits. A Special Needs Trust is a specific type of irrevocable trust that exists under Common Law. Several Common Law nations have established specific statutes relative to the creation and use of Special Needs Trusts, and where they exist a Special Needs Trust will not be valid unless it comports with the requirements listed in the statute. The applicable Federal statute in the United States is found at Title 42 United States Code Section 1396p(d)(4)(A). Several States have (en) |
| rdfs:label | Special needs trust (en) |
| rdfs:seeAlso | dbr:Supplemental_needs_trust |
| owl:sameAs | freebase:Special needs trust yago-res:Special needs trust wikidata:Special needs trust https://global.dbpedia.org/id/4vuuz |
| prov:wasDerivedFrom | wikipedia-en:Special_needs_trust?oldid=1059956427&ns=0 |
| foaf:isPrimaryTopicOf | wikipedia-en:Special_needs_trust |
| is dbo:wikiPageRedirects of | dbr:Special_Needs_Trust dbr:Special_Needs_trust |
| is dbo:wikiPageWikiLink of | dbr:Estate_planning dbr:Special_Needs_Tax_Credit dbr:United_States_trust_law dbr:Supplemental_needs_trust dbr:Special_Needs_Trust dbr:Special_Needs_trust |
| is foaf:primaryTopic of | wikipedia-en:Special_needs_trust |