This form is a trust used to provide supplemental support for a disabled beneficiary without loss of government benefits. It may be revocable or irrevocable, as the funds are contributed by a third party, and not the beneficiary. The Omnibus Budget Reconciliation Act of 1993 established the supplemental needs trusts.
Trust Fund For Disabled Person With No Income
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Multi-State
Control #:
US-03304BG
Format:
Word;
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How to fill out Supplemental Needs Trust For Third Party - Disabled Beneficiary?
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FAQ
One of the biggest mistakes parents make is failing to outline the specific needs of their disabled child when establishing a trust fund. Without a clear understanding of how the funds will be used, the trust may not serve its intended purpose effectively. Additionally, overlooking the tax implications can lead to unintended financial burdens. To avoid these pitfalls, consider utilizing platforms like USLegalForms to guide you in creating a tailored trust fund that meets your child's unique requirements.
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