Special Needs Trust Setup

Creating a trust for a special needs adult is a thoughtful way to ensure their financial future. Here are some key points:
- Special Needs Trusts (SNT): These are designed to manage assets for individuals with disabilities without affecting their eligibility for government benefits.
- Types: There are first-party and third-party SNTs, depending on whose assets are funding the trust.
- Trustee: Choose a reliable trustee to manage the trust for the benefit of the special needs individual.
Would you like guidance on how to proceed with setting up a trust?

Great! Here are some steps to help you set up a Special Needs Trust (SNT) in New York:
- Consult an Attorney: It's advisable to consult with a lawyer who specializes in trusts and estate planning.
- Draft the Trust Document: The trust document needs to be drafted to meet legal requirements and serve the specific needs of the beneficiary.
- Choose the Type: Decide whether a first-party or third-party trust is appropriate.
- Select a Trustee: Appoint a responsible and trustworthy individual or institution to manage the trust.
Would you like assistance in finding a local attorney to help you with this process?

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Sure, here's a brief explanation of the two types of Special Needs Trusts (SNT):
- First-Party Special Needs Trust: Funded with the assets of the person with disabilities, often created when the individual receives a settlement or inheritance.
- Third-Party Special Needs Trust: Funded by assets from someone other than the person with disabilities, like parents or other relatives, and often part of estate planning.
Would you like more detailed information or have any other questions?

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To find an attorney in Connecticut who specializes in creating Special Needs Trusts, consider contacting the Connecticut Bar Association for a referral or searching online legal directories like Avvo or Martindale-Hubbell. They can help connect you with a qualified attorney in your area.