Reasons to set up a 3rd Party Supplemental Needs Trust as an Irrevocable Life Insurance Trust
Recently, I wrote a post explaining the differences between a First Party Special Needs Trust and a Third Party Supplemental Needs Trust. As you are aware, the goal of a Special Needs Trust or a Supplemental Needs Trust is to provide financial resources to a Special Needs Person in a way that will not cause them […]
Understanding the Differences Between Special Needs Trusts and Supplemental Needs Trusts
“Special Needs Trusts” and “Supplemental Needs Trusts” are terms to describe trusts designed to provide benefits to a person in a way that will preserve the public benefits that he or she is entitled to receive. These types of trusts are most commonly created when a person has some sort of special needs or disability. […]
Special Needs Planning in NJ – Part 4 of 4
Special Needs Trusts and Supplemental Needs Trusts In Part IV of this Series, I want to discuss the role of Special Needs Trusts and Supplemental Needs Trusts in estate planning. “Special Needs Trusts” and “Supplemental Needs Trusts” are terms to describe trusts designed to provide benefits to a person in a way that will preserve […]