Special Needs Trust: How To Simplify Operations

Children and adults with special needs make up a significant percentage of the population. Generally characterized by a physical or intellectual disability or medical complication that requires accommodation for everyday living, people with special needs and their families have unique financial planning and investing needs to ensure they can enjoy security today and into the future. Independent RIAs are uniquely qualified to assist with these needs, provided they have the appropriate knowledge, tools, and resources.

Recognizing the pressures on special needs individuals, many financial advisors are expanding their practices to include services for this segment, including providing education, technology, and financial planning services through a Special Needs Trust. A Special Needs Trust is a popular strategy for families and advisors that want to ensure adequate financial resources for someone in need without risking that person’s eligibility for programs that require income or assets to remain below a certain limit.

This whitepaper discusses how to use a Special Needs Trust to pay for anything the individual may need, including personal and medical care, education, travel, and more. It also shows how trust companies can leverage managed services to handle the complexities of administering a Special Needs Trust.