Special Needs Trust Funding, Administration, and Termination: Key Trust Provisions, Tax Issues, ILITs, Beneficiaries

Note: CPE credit is not offered on this program

A live 90-minute CLE video webinar with interactive Q&A


Thursday, November 11, 2021

1:00pm-2:30pm EST, 10:00am-11:30am PST

or call 1-800-926-7926

This CLE webinar will provide an in-depth analysis of the key challenges of special needs trust (SNT) funding, administration, and termination, as well as pitfalls to avoid. The panel will discuss SNT funding options and the best assets to put in a trust, the use of life insurance and ILITs, tax issues for SNTs, and key trust provisions. The panel will also discuss administrative challenges and procedures for termination and other complex issues.

Description

SNTs are an integral part of the practice of elder law. To handle these trusts properly for clients, counsel must know when SNTs are appropriate, how to draft SNTs, how to administer the trusts and determine when a trust should be modified or terminated, and the potential legal and tax implications.

The Special Needs Trust Fairness Act permits mentally competent individuals with disabilities to establish SNTs for their benefit. In the past, only parents, grandparents, legal guardians, or a court could set up trusts on behalf of a disabled person. Counsel must understand the tax consequences and the impact on a client's public benefits when establishing an SNT. In addition, counsel must be aware of pitfalls when amending or terminating SNTs and alternatives to minimize any adverse impact on the trust and beneficiaries.

Listen as our panel of elder law practitioners discusses critical points for elder law counsel to understand, SNT funding options, the best assets to put in a trust, the use of life insurance and ILITs, and key trust provisions. The panel will also discuss administrative challenges and procedures for termination and other complex issues.

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Outline

  1. Determining the need for SNTs
  2. Funding options
  3. Administrative challenges
  4. SNT modification and termination

Benefits

The panel will review these and other key issues:

  • What are the key considerations in structuring SNTs?
  • What are the funding options and pitfalls to avoid?
  • What are the administrative issues and best practices to avoid them?
  • What are the legal and tax ramifications of modifying or terminating SNTs?

Faculty

Siegel, Shana
Shana Siegel

Member
Norris McLaughlin

Ms. Siegel concentrates her practice in the area of elder law, focusing on representing seniors, individuals with...  |  Read More

Additional faculty
to be announced.
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You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

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