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does anyone's child/young adult have a special needs trust?
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<blockquote data-quote="goldenguru" data-source="post: 231181" data-attributes="member: 1545"><p>Well our children aren't 'special needs', but our entire estate is set up to be in a trust in the event of our simultaneous deaths. We appointed a guardian/trustee to manage the trust until our children are 25 years old. It is not a relative - but a professional who (we hope) would remain objective in allocating needed funds.</p><p></p><p>When we approach that 25 year old mark, we will reassess whether or not we feel they are mature enough to handle managing the trust. </p><p></p><p>I would encourage you to consider a professional trustee. The problem you could possibly run into is your son wanting at 'his money' - and you being the gatekeeper. It could create conflict in my opinion.</p><p></p><p>You may want to consult with your lawyer for specific laws in your state. We did, and it was well worth the money we spent.</p></blockquote><p></p>
[QUOTE="goldenguru, post: 231181, member: 1545"] Well our children aren't 'special needs', but our entire estate is set up to be in a trust in the event of our simultaneous deaths. We appointed a guardian/trustee to manage the trust until our children are 25 years old. It is not a relative - but a professional who (we hope) would remain objective in allocating needed funds. When we approach that 25 year old mark, we will reassess whether or not we feel they are mature enough to handle managing the trust. I would encourage you to consider a professional trustee. The problem you could possibly run into is your son wanting at 'his money' - and you being the gatekeeper. It could create conflict in my opinion. You may want to consult with your lawyer for specific laws in your state. We did, and it was well worth the money we spent. [/QUOTE]
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does anyone's child/young adult have a special needs trust?
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