Special Needs Trust

A trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. that is set up to provide for “extras” that willA written document that sets forth and names the personal representative who will be in charge of overseeing the probate process and names the specific bequest and residual beneficiaries of property who are to receive and inherit assets and property through probate. A Will does not avoid probate, and must be properly drafted and executed to be legal. A Will can also avoid the use of a surety bond in many instances and can help utilize an “informal” Wisconsin probate process if it has the proper clauses and attestation clause. not be provided for by government or other programs for a mentally or physically disabled person. This type of trustThe arrangement creating the legal ownership of assets by a trustee for the benefit of the Settlor and/or other beneficiaries. is for the “special needs” of the disabled person beyond the persons basic care needs of food and shelter. In Wisconsin a Special Needs TrustA trust that is set up to provide for "extras" that will not be provided for by government or other programs for a mentally or physically disabled person. This type of trust is for the “special needs” of the disabled person beyond the persons basic care needs of food and shelter. In Wisconsin a Special Needs Trust can be set up as part of a Revocable Trust or in a Will during the estate planning process. A special needs trust can also be established by certain eligible individuals or if necessary by a court at the court’s discretion. If any of your beneficiaries are disabled, it is important to let the attorney know during the estate planning process. can be set up as part of a Revocable TrustA trust created during lifetime that can be terminated, amended, or modified by the person creating it. A Revocable Trust is often used in Wisconsin to avoid probate and provide for the orderly and proper distribution of assets upon death of its creator and to provide for management of assets and property if the creator of the trust becomes incapacitated. or in a WillA written document that sets forth and names the personal representative who will be in charge of overseeing the probate process and names the specific bequest and residual beneficiaries of property who are to receive and inherit assets and property through probate. A Will does not avoid probate, and must be properly drafted and executed to be legal. A Will can also avoid the use of a surety bond in many instances and can help utilize an “informal” Wisconsin probate process if it has the proper clauses and attestation clause. during the estate planningPlanning in advance of disability, incapacity, or death to make sure that key life issues have been addressed while the person is still of sound mind and able to understand and sign key documents such as Power of Attorneys, Power of Attorneys for Health Care, Wills, and Trusts to form a strategy and provide for the administration and disposition of his or her assets upon death or upon incapacity. process. A special needs trustA trust that is set up to provide for "extras" that will not be provided for by government or other programs for a mentally or physically disabled person. This type of trust is for the “special needs” of the disabled person beyond the persons basic care needs of food and shelter. In Wisconsin a Special Needs Trust can be set up as part of a Revocable Trust or in a Will during the estate planning process. A special needs trust can also be established by certain eligible individuals or if necessary by a court at the court’s discretion. If any of your beneficiaries are disabled, it is important to let the attorney know during the estate planning process. can also be established by certain eligible individuals or if necessary by a court at the court’s discretion. If any of your beneficiaries are disabled, it is important to let the attorney know during the estate planningPlanning in advance of disability, incapacity, or death to make sure that key life issues have been addressed while the person is still of sound mind and able to understand and sign key documents such as Power of Attorneys, Power of Attorneys for Health Care, Wills, and Trusts to form a strategy and provide for the administration and disposition of his or her assets upon death or upon incapacity. process.