To many, the rules and regulations concerning special needs trust seem capricious and inconsistent. Practitioners often wonder if a special needs trust is needed, and if so, what type and with what terms?
If two preliminary concepts are understood, however, the rules become surprisingly consistent and logical. These are: 1) The nature and differences between means-tested and entitlement public benefits programs, and 2) Federal and State statutes and regulations governing the treatment of trusts by benefits programs under OBRA 93.
This seminar will focus on teaching these two preliminary concepts, and how they affect special needs planning. Participants should then have an understanding of the logic behind special needs trusts, and will be able to better understand whether or not one is appropriate.
The seminar also considers the various types of benefits programs, whether or not excess assets are a problem, and various methods to resolve this if they are. Differences between first and third party trusts and planning will also be discussed, and tools to resolve eligibility problems caused by litigation settlements, unplanned inheritances, and other windfalls.
If you wish to include special needs trusts in your practice, or administer trusts that have such language, you should understand the concepts covered in this seminar to assure you are using these tools properly. This is impossible without understanding public benefits programs and OBRA 93. Inadequate understanding can lead to professional liability for loss of benefits or unnecessary special needs trusts or provisions.