By Thomas D. Begley, Jr., CELA<\/p>\n
Trusts for disabled individuals who have not reached age 65 and are funded with assets of the disabled person are authorized under OBRA-93.(1) \u00a0The trust is for the benefit of disabled persons. \u00a0The person much be under 65 at the inception of the trust. \u00a0While the trust must be established and funded prior to the beneficiary attaining the age of 65, it may continue after 65. \u00a0If the trust is funded with a structured settlement prior to the beneficiary attaining the age of 65, the trust remains viable even though payments from the annuity are received after age 65.<\/p>\n
The trusts must be established by a parent, grandparent, legal guardian, or court. Curiously, they cannot be established by the disabled individual. However, there is legislation in Congress that would permit the individual beneficiary to establish his or her own trust.<\/p>\n
By statute, transfers to the trust are not (more…)<\/span><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" By Thomas D. Begley, Jr., CELA Trusts for disabled individuals who have not reached age 65 and are funded with assets of the disabled person are authorized under OBRA-93.(1) \u00a0The trust is for the benefit of disabled persons. \u00a0The person…<\/span><\/p>\n