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Special needs trusts help financially care for dependents with disabilities.
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Additional insights we found via Kiplinger
Special needs trusts are a specific type of trust that ensures dependents with special needs still qualify for Supplemental Security Income and Medicaid, given that the trust's assets are excluded from the asset limits tests required to qualify for these programs.
Broadly speaking, trusts are estate planning tools used to designate assets to specific beneficiaries.
There’s a common misconception that trusts are only for children of the wealthy. In reality, many personal finance experts argue that individuals of various net worths should consider establishing a trust.
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