Office Location:
31 West Patrick St., Suite 120
Frederick, Md. 21701
A half a block from the Frederick County Courthouse
Phone: (301) 620-1190
Fax: (301) 631-5991
Hours:
Monday through Friday
8:00 a.m. to 6:00 p.m.
Questions or comments? Get in touch with us at: conklynandassociates@verizon.net
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Special Needs Trust
The special needs trust should be the centerpiece of any estate plan established by parents of a child who, because of a disability, will not be able to live independently. Because of the cost of supporting disabled child would quickly dispose of any inheritance and result in the child’s eventual and usually inevitable dependence on government services, it is unwise to allow disabled children to inherit estate assets directly. The special needs trust preserves the child’s eligibility for benefits and allows the trust funds to be used for quality of life expenditures, such as vacations, household furnishings, or hobby activities. The wording of the special needs trust must be very specific, and federal and state regulations addressing the permissibility of these trusts are constantly changing. However, if drafted correctly, a special needs trust will allow a disabled child to use his or her inheritance the way any non-disabled person might–to enrich his or her life–rather than as a mere downpayment for the necessities of living. 