In this event, there would be no coverage for emergencies or supplementation for basic needs.
If this Trust were to be invaded by creditors, subjected to any liens or encumbrances, or cause public benefits toīe terminated, it is likely that the Trust corpus would be depleted prior to death, especially since the cost of care for developmentally disabled persons is high. It is vitally important the Grantor’s child have these programs and enrichments in order to maintain a level of human dignity and humane care. There exists living needs such as travel, entertainment, and outdoor recreation which public benefit programs for the disabled do not provide. Grantor or any other person or entity may from time to time transfer additional property to the Trustee to be added to the Trust Property upon the terms of this Trust Agreement.ĪRTICLE 2: MANAGEMENT AND DISPOSITION OF TRUST ESTATEĢ.1 It is Grantor’s primary concern in drafting this Special Needs Trust that it continue in existence as a supplemental and emergency fund to public assistance for (the “Beneficiary”), throughout her life. The Trust Property shall be administered and distributed upon the terms and conditions set forth herein.ġ.2 Additions to Trust. The Grantor hereby establishes an irrevocable trust and assigns, conveys, transfers and delivers to the Trustee (as hereinafter named) the property described in Schedule A (the “Trust Property”) attached hereto and the Trustee accepts such property as the initial Trust estate.
Listed below are checklists to help you when organizing your affairs.IRREVOCABLE TRUST AGREEMENT, dated this day of, 20 betweenġ.1 Trust Property. Having your financial affairs, materials and end-of-life instructions in order will give you all peace of mind. One of the most important things you can do for the people who mean the most to you is prepare for when you are gone.
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