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What Is A Special Needs Trust?

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What Is A Special Needs Trust? Powered By Docstoc
					WHAT IS A
SPECIAL NEEDS TRUST?
Estate Planning
    Devices
     ESTATE PLANNING is
not a one-size-fits-all endeavor
 There are different legal devices
that are utilized depending on the
          circumstances
Consider the Recipient
When you are planning your estate,
you should consider the life situation
     of each individual inheritor
  The best way to arrange for
future asset transfers may differ
     from person to person
Special Needs
  Planning
   You may have someone
with a disability in your family
People with disabilities often rely
  on government benefits like
  Medicaid and Supplemental
        Security Income
Need-Based
 Programs
    Medicaid and SSI
are need-based programs
You cannot qualify if your resources
   exceed the upper asset limits
More Harm Than
    Good?
 If you leave a direct inheritance
   to someone who is receiving
need-based government benefits,
        you could be doing
       more harm than good
The influx of resources could
render the inheritor ineligible
  for need-based benefits
Special Needs
   Trusts
 You could leave someone with a
disability an inheritance by making
this individual the beneficiary of a
SPECIAL NEEDS TRUST
Assets conveyed into the trust can
 be used by the trustee to improve
the quality of life of the beneficiary
These expenditures do not impact
  government benefit eligibility
  FREE Indianapolis
Special Needs Planning
     Consultation
   If you have someone with a disability on your
inheritance list, contact our firm to schedule a free
        special needs planning consultation
 Frank & Kraft
(317) 684-1100
FrankKraft.com

				
DOCUMENT INFO
Description: You could leave someone with a disability an inheritance by making this individual the beneficiary of a Special Need Trust. Take a more look in this presentation.
About Mr. Kraft is a co-founder of the Indiana Network of Estate Planning Professionals, a charter member of the American Academy of Estate Planning Attorneys and a founding member of the National Network of Estate Planning Attorneys. He is also a member of the Indianapolis Bar Association, including the Taxation, Business Law and Estate Planning sections; the Indiana State Bar Association, including the section on Taxation Law; the Indiana CPA Society; and the Estate Planning Council of Indianapolis. Mr. Kraft is admitted to practice law before the Supreme Court of Indiana, U.S. District Courts, and U.S. Tax Court.