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Special Needs Trust STATUTES:
Legal Authority for Special Needs Trusts is found in U.S.C 1396p(c) and (d): of the Omnibus Budget Reconciliation Act of 1993. Special Needs Trusts are trusts established to benefit persons with disabilities with the intent to protect the Beneficiary’s assets for their lifetime use, yet allowing the Beneficiary to continue to receive government benefits. Special Needs Trusts are funded by the person with disability, usually through an inheritance or personal injury settlement. Probate Courts will often require Trustees of Special Needs Trusts to post a bond guaranteeing fiduciary performance of duties of a trustee. Underwriting Requirements:
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