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4 Opportunities to Involve the Court with a Supplemental Needs Trust

As a practicing attorney, I noticed that when I do special needs planning there are occasions when you may need to get a court involved to get approval for the creation of a supplemental needs trust (SNT). I thought it would be helpful to run through a few of the circumstances that I have seen in my practice and which hopefully will prove helpful to you in your practice.

During this video, I cover four main opportunities to get a court involved in the creation and funding of a SNT. The first being for the approval of a d4A trust or possibly a d4C trust where court approval is required.

Secondly, I talk about the termination of an existing deal for a trust where the client was unhappy with the creation of the SNT due to the restrictions on distributions from the trust. I discuss some of the reasons why that happened and hopefully make sure that you can avoid that when you're working with the personal injury bar in setting up these trusts.

The third scenario is for the creation of a Qualified Income Trust (QIT). This only effects lawyers in income tax states but is still very important to understand the court's role in setting up QITs or d4B.

And finally I talk about the termination of a d4A due to improper drafting and why the court needs to be involved in that.

⇒ Access the video now! ⇐

 

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