Trusts are a common estate planning tool and are used to keep assets out of a probated estate or to reduce an estate tax burden. Trusts can also be used to protect one’s heirs. There are instances when it may not be in a person’s own best interests to inherit funds directly.<\/p>\n
A direct inheritance may prove detrimental in the case of an heir with special needs. The families of individuals with special needs have often arranged their finances such that the individual will be eligible for Supplemental Security Income, Medicaid and other public benefits. These programs are needs-based, which means that if the individual’s income or assets rise above a certain level, the benefits could be lost. In a case like this, a direct inheritance could do more harm than good, and a solution may be a special needs trust or supplemental needs trust, which can be used to provide for (more…)<\/span><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Trusts are a common estate planning tool and are used to keep assets out of a probated estate or to reduce an estate tax burden. Trusts can also be used to protect one’s heirs. There are instances when it may…<\/span><\/p>\n