“Thought for the Day” #863 – by Stephen R. Elville, J.D., LL.M.

December 12, 2016

Despite all the dos and don’ts associated with estate planning and elder law, it’s good to know there is something straight-forward, impactful, extremely sensible, and relatively simple that can be implemented without many of the usual complexities of planning, and with an element of joy.  This holiday season, consider establishing a third-party supplemental needs trust for the benefit of a family member with disabilities.  Another person such as the parent(s) of the person with disabilities may or may not have already established such a trust.  Regardless, your establishment and funding of a third-party supplemental needs trust will build, or continue to build, a world of assistance for the beneficiary outside of and in addition to the traditional world of public benefits he or she may receive currently or in the future.