Managing a Special Needs Trust: A Guide for Trustees

 By Barbara D. Jackins, Esq., Richard S. Blank, Esq., Ken W. Shulman, Esq., and Harriet H. Onello, Esq.       

 Publisher: DisABILITIESBOOKS: $24.95            ISBN: 0-9845852-4-9          242 pages             

Contact: Stanley D. Klein, Ph.D., Publisher, (617) 879-0397 stan@disabilitiesbooks.com

                               

FOR IMMEDIATE RELEASE

Managing a Special Needs Trust: A Guide for Trustees is a reference guide for anyone who is managing a special needs trust for a person with a disability and/or working with families on future planning for a family member with a disability. The book explains how special needs trusts relate to the complicated public benefit programs that assist people with disabilities.

 Adults (18 or older) with a disability who qualify for SSI (Supplemental Security Income) receive a monthly check. In most states, they also receive Medicaid automatically. To get SSI, adults do not have to show any financial hardship or special economic need. However, they must have a disability according to the Social Security rules, have low income, and own few assets (in most cases, $2,000 or less).

Currently, over three million adults with disabilities receive SSI cash benefits. 

In 2010, an individual who qualifies can receive a maximum federal benefit of $674/month. Nine states (California, Hawaii, Massachusetts, Nevada, New Jersey, New York, Pennsylvania, Rhode Island, Vermont) and the District of Columbia supplement the federal SSI benefit.

 Via a special needs trust, families can set aside assets for their family member with a disability (beneficiary). Since the trust is not counted as an asset, the beneficiary remains qualified for SSI, Medicaid, and other government benefits. Families with limited assets should consider establishing a special needs trust because it is not necessary to put any money into an account when they sign the trust. When parents are gone, a portion of their estate, life insurance benefits, and other funds can pass to the special needs trust.

 Managing a Special Needs Trust: A Guide for Trustees is for laypersons (friends and family of a person with a disability) and for professionals—attorneys, financial planners, tax advisers, social workers and educators—anyone who is managing (or considering managing) a special needs trust and/or assisting families.

 The authors (all Massachusetts attorneys) explain how a trustee can use the trust funds for the medical, recreational, and transportation needs of a beneficiary with a disability without risking the benefits of government programs such as SSI, SSDI, Medicaid, and Section 8 housing and provide many examples.

 Managing a Special Needs Trust answers common questions such as:

·         What are my responsibilities to the beneficiary with a disability?

·         Can I spend money for a car, trip, or gift?

·         How does the trust affect public housing benefits?

·         What expenses can I safely pay without risking SSI benefits?

·         How do I open a bank account?

·         Does the trust need its own taxpayer identification number?

·         What happens if I need to resign?

The book also explains the trustee’s bond, fees, record keeping, accounting requirements, and investment responsibilities.

 Managing a Special Needs Trust: A Guide for Trustees is a completely revised, updated, and expanded edition of Special Needs Trust Administration Manual: A Guide for Trustees (2004; 2005). Although earlier editions focused almost exclusively on Massachusetts laws and procedures, over 10,000 copies were sold across the USA. The new 2010 edition applies to all 50 states. Managing a Special Needs Trust is a welcome addition to any disabilities library.

 For more information (contents, excerpts, reviews, author bios) and to purchase, please go to: http://www.disabilitiesbooks.com/managing_snt/index.html

 Reviews of 2004, 2005 Editions

 “Special needs trusts enhance a disabled person's quality of life while allowing government benefits like Medicaid to continue...attorneys often are asked by clients about to take on the job of trustee, "Is there something I can read?"

 

“The authors of this manual wrote it so that they could finally answer, ‘Yes!’

 

“The authors are Massachusetts attorneys with extensive experience in creating and administering special needs trusts…The manual covers the subject from A to Z, including general trust accounting rules, descriptions of public benefit programs, and instructions on making distributions from special needs trusts. Mistakes in this field can be very costly to the beneficiaries, potentially involving the loss of important coverage from public benefits programs and the requirement to pay back past benefits.”

ElderLawAnswers.com, December, 2004

 

"… clear, concrete, and organized in a way that was useful and usable…will learn what types of rules, regs and programs they need to be aware of…the book is not designed to take the place of an attorney, but rather to help individuals be well informed, and make good and efficient use of the time they may need to spend working with a lawyer…"

John G. Reiss, Ph.D., Associate Professor of Pediatrics

Director, Policy & Program Affairs

Institute for Child Health Policy, University of Florida

List Moderator, Transition listserve

 

“I wanted to let you know how much I appreciated this manual for trustees. I have been working with families…and I am a mother of a very involved child…Many parents become trustees, as well as close relatives and family members. This is a great guide to their responsibilities as well as providing much needed resources and information…the language is easy to understand and the legalese is kept to a minimum. I recommend it to professionals and lay people alike.”

Annette M. Hines, Attorney at Law
  Natick, MA

 

"… an indispensable guide to the issues special needs trustees are likely to face. Every trustee of a special needs trust should have this book by his or her side to make sure the beneficiary gets every benefit the trust was designed to provide. "

Harry S. Margolis, Attorney, Co-Founder

Academy of Special Needs Planners

 

"… a great resource, well written and comprehensive. It provides expert guidance to both professional and family trustees...”

Neal A. Winston, Certified Elder Law Attorney

President, Special Needs Alliance