Setting up a special needs trust is important, whether it’s for a child, a disabled adult, or an elderly parent. But how do you know if you’ve done it right? Many people worry that a mistake in their trust fund won’t be discovered until after their death, at which point the trust becomes “live” for the beneficiary. Fortunately, there are ways to ensure that your trust will function as you want for the beneficiary. Let’s take a look at some of the most common mistakes people make when setting up a special needs trust and how to avoid them. Don’t Allow Funds to Co-Mingle There are two kinds … [Read more...]
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