Family members often want to be the trustee of their children\u2019s special needs trusts established to hold litigation proceeds.\u00a0 This almost inevitably ends in disaster, because the trustee must be familiar with SSI Rules, Medicaid Laws and Regulations, Tax Law, must have investment management expertise, must have only the interest of the disabled beneficiary at heart, have no conflict of interest, and must be able to navigate the disability system.\u00a0 A much better solution is a professional trustee.\u00a0 However, family members are often reluctant to give up control.\u00a0 They see a professional trustee as someone between them and their money, even though the money is the money of the injured child and not the other family member\u2019s.<\/p>\n
The next request that family members often have is to be named as co-trustee.\u00a0 Most professional trustees will not agree to serve as co-trustee with a family member, because family members do not understand the (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Family members often want to be the trustee of their children\u2019s special needs trusts established to hold litigation proceeds.\u00a0 This almost inevitably ends in disaster, because the trustee must be familiar with SSI Rules, Medicaid Laws and Regulations, Tax Law,…<\/span><\/p>\n