Administering Special Needs Trusts can be particularly problematic because it involves caring for beneficiaries with special needs and the risk of losing critical benefits. This program will cover the common problems attorneys encounter in administering special needs trust including finding a good trustee, managing the beneficiary’s expectations, handling distributions, handling a failed trust, and dealing with creditors. This program will also cover common solutions including decanting, trust termination, NJSAs, guardianships, changing trustees, as well as using pooled trusts, corporate trustees, trust protectors, care managers, and considering ABLE accounts as an alternative. Understanding the problems and solutions in administering special needs trusts will enable you to better advise your clients on creating a special needs trust in addition to solving problems after they arise.
Credits: 1 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 0 Other PR
Expires: 09/01/2027
Common Problems and Solutions in Administering Special Needs Trusts
Administering Special Needs Trusts can be particularly problematic because it involves caring for beneficiaries with special needs and the risk of losing critical benefits. This program will cover the common problems attorneys encounter in administering special needs trust including finding a good trustee, managing the beneficiary’s expectations, handling distributions, handling a failed trust, and dealing with creditors. This program will also cover common solutions including decanting, trust termination, NJSAs, guardianships, changing trustees, as well as using pooled trusts, corporate trustees, trust protectors, care managers, and considering ABLE accounts as an alternative. Understanding the problems and solutions in administering special needs trusts will enable you to better advise your clients on creating a special needs trust in addition to solving problems after they arise.
Heather E. Voorn, Voorn, Jaworski, & Preston, PLLC, New Lenox &
Kristin Wood, Voorn, Jaworski, & Preston, PLLC, New Lenox
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