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Transcription:

00:00:03 a special needs trust is a particular form of trust that’s given where the beneficiary is someone who cannot handle their own affairs and often is dependent on government benefits the three key points there one is the beneficiary cannot be the trustee two the trustee has discretion on when to give the beneficiary benefits from the trust so it’s not just all the income it’s whatever the beneficiary needs however the limit is the trustee should not give out anything that would then disqualify the beneficiary from getting social

00:00:43 security or Medicare or Medicaid benefits and the final point is if the law changes somebody needs to amend the trust because the trust is set up as an irrevocable trust you can’t change it once it’s in place so we appoint what’s called a trust protector and that’s someone who is independent of the beneficiary it can be a relative but they can’t also be trustee or can’t be serving as trustee at the same time they are then allowed to go in and amend the provisions of the trust in order to make it work given the law at that time