Special Needs Trust Administration: Distributions, Income Taxation, Trust Accounting, Pitfalls to Avoid

Note: CPE credit is not offered on this program

Recording of a 90-minute CLE video webinar with Q&A


Conducted on Thursday, June 10, 2021

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE course will provide elder law attorneys and trustees guidance on the challenges of administering special needs trusts (SNTs) and methods to overcome them. The panel will discuss methods in handling administrative pitfalls that arise due to poorly drafted SNTs, income taxation, trust accounting, eligibility rules for means-testing programs, and other key items that must be considered in the administration of SNTs.

Description

Special needs trusts (SNTs) are an integral part of the practice of elder law, and the administration of these trusts can be daunting. Elder counsel and trustees must identify key issues in trust documents and navigate challenges in distributing SNTs.

The Special Needs Trust Fairness Act permits mentally competent individuals with disabilities to establish SNTs for their benefit. To ensure the proper administration of SNTs by trustees, attorneys, financial planners, and others involve an understanding of best disbursement practices, considerations for trustee resignation, navigating income tax and trust accounting rules, and the impact of public benefits.

Listen as our panel of elder law practitioners discusses critical issues in SNT administration and offers best practices for elder law counsel and trustees.

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Outline

  1. SNT overview
  2. Distributions
  3. Tax and accounting issues
  4. Handling poorly drafted SNTs
  5. Pitfalls to avoid

Benefits

The panel will review these and other key issues:

  • What are the different types of SNTs and common issues in administration?
  • What are the duties of the trustees of an SNT?
  • What issues must counsel be aware of when advising trustees of SNTs?
  • What recourses are available for the administration of a poorly drafted SNT?
  • What are the tax and accounting issues to consider in the process?
  • What issues arise in distributing SNTs and what are methods to overcome them?

Faculty

Arkin, Brandon
Brandon Arkin

Attorney
Solkoff Legal

Mr. Arkin represents the elderly, the disabled and their caregivers in all facets of Elder Law including Estate...  |  Read More

Laymon-Pecoraro, Shannon
Shannon Laymon-Pecoraro

Shareholder
Hook Law Center

Ms. Laymon-Pecoraro is a Shareholder of Hook Law Center, P.C. practicing in the areas of elder law, special needs...  |  Read More

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