Special Needs Trust:Planning for a Lifetime

On September 19, 2012, firm partner, Yasha Bronshteyn attended the Special Needs Trust Seminar presented by Wells Fargo Bank and sponsored by the Barlow Foundation, Goodwill Southern California, and the United Rescue Mission. The assets in a properly established Special Needs Trust (SNT) will not be counted toward the Supplemental Security Income (SSI), Medi-Cal and In-Home Support Services (IHSS) asset limit of $2000 for an individual.

California Probate Code Section 3604 states that if a court makes an order under Section 3602 or 3611 that money of a minor or person with a disability be paid to a special needs trust, the terms of the trust shall be reviewed and approved by the court and shall satisfy the requirements of this section. The trust is subject to continuing jurisdiction of the court, and is subject to court supervision to the extent determined by the court.

Depending on particular circumstances notice of the time and place of the hearing on the Petition to Exclude Funds from Estate and to Direct Payment to Special Needs Trust and a copy of the petition will be given to the State Director of Health Services, the State Director of Mental Health and the State Director of Developmental Services as required by law.

The law and rules surrounding Special Needs Trusts can be complicated. As such please seek proper legal counsel.