Sometimes It's Better Not To Use a Special Needs Trust

Ten years ago a quiet revolution took place in the planning of estates and benefits for people with disabilities. On Aug. 10, 1993, President Clinton signed the Omnibus Budget Reconciliation Act, which included a provision authorizing the creation of a new form of special needs trust. This unique vehicle, called the OBRA trust and funded with a disabled beneficiary's own assets, allows the beneficiary

Ten years ago a quiet revolution took place in the planning of estates and benefits for people with disabilities. On Aug. 10, 1993, President Clinton signed the Omnibus Budget Reconciliation Act, which included a provision authorizing the creation of a new form of special needs trust. This unique vehicle, called the OBRA trust and funded with a disabled beneficiary's own assets, allows the beneficiary to shelter unlimited amounts of assets but still qualify for medical assistance under Title

All access premium subscription

Your subscription will include 12 months of Trusts & Estates magazine and access to premium content on WealthManagement.com.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish