Special Needs Trusts Explained

From the St. Louis Post Dispatch, is an article by Jerri Stroud that explains the ins and outs of the "special needs trust," which helps provide for special needs children in the event that something happens to the parent or guardian.

Some highlights of the article, Special needs trusts helps provide for disabled children, includes:

• Can allow a disabled person to continue receiving government benefits while benefitting from an inheritance or proceeds from a lawsuit.
• Provides money to cover needs other than health care, education or maintenance of support for the disabled person.
• Can be set up to take effect upon the death of a parent.
• Can be funded with insurance, inherited money or gifts made by a living donor.

For more information, see the entire article on STLtoday.com.