Once you have decided to establish a Living Special Needs Trust, you must also decide whether or not this trust will be revocable or irrevocable. There are benefits and drawbacks of each type of trust, and you must carefully consider your family\u2019s circumstances before making a decision.<\/p>\n
With a Revocable Trust, you retain the right to add or subtract assets to the trust at any time. This gives you a great degree of flexibility, as you can manage the trust according to your family\u2019s changing life circumstances. If you choose this type of trust, it is important to know that the government considers the assets in the trust part of your estate. If you die, everything in your trust will be included in your estate for tax purposes and may be subject to lawsuits. That means that if someone attempts to sue you after your death, the assets in your trust are (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Once you have decided to establish a Living Special Needs Trust, you must also decide whether or not this trust will be revocable or irrevocable. There are benefits and drawbacks of each type of trust, and you must carefully consider…<\/span><\/p>\n