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The Special Needs Irrevocable Trust Agreement is designed for families seeking to establish a trust for the benefit of a disabled child while preserving eligibility for governmental benefits. This irrevocable trust cannot be altered without court approval, ensuring that assets are used solely to supplement benefits the Beneficiary may receive. Key features include provisions for the discretionary distribution of trust income and principal to address the special needs of the Beneficiary, while avoiding any impact on their eligibility for government assistance. Specific filling instructions include entering the names, addresses of the Settlor, Trustee, and Beneficiary, and designating a schedule for trust assets. The form is useful for attorneys, partners, and paralegals in estate planning, ensuring that clients understand the long-term implications of setting up a trust that complies with state and federal laws. Legal assistants can also benefit by learning the required documentation and procedural steps necessary to finalize the establishment of such a trust. The comprehensive provisions for income distribution, trustee powers, and termination ensure clarity for all parties involved in managing the trust.
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How to fill out Special Needs Irrevocable Trust Agreement For Benefit Of Disabled Child Of Trustor?
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