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Carol Tells How A Self-Settled/First-Party Special Needs Trust Works For Her Son Gary

Gary had been in an accident and was being awarded a settlement.  Because he was receiving government benefits based on his income, depositing the settlement into his personal bank account would have affected his benefits.  He and his mother Carol sought advise from their attorney who recommended that Gary establish a Self-Settled/First Party Special Needs Trust.  By doing this, Gary was able to preserve his benefits and benefit from the settlement.

Why did you establish a First-Party Special Needs Trust?

When we went to court to authorize the settlement for Gary’s accident into a special needs trust, the judge suggested that we utilize the Special Needs Trust Foundation.  I was concerned about how difficult it could be to access the funds, but it has worked out well.

What types of purchases have been made, and what is your experience with the distribution process?

During the initial distribution meeting, we set up a budget for electronics that Gary had been wanting, such as a new TV, computer, sound system, and Kindle.  Since then he has used some of the funds for his cat’s bills, dental bills, glasses, and a cruise with the family.

How does the Special Needs Trust help you?

The Special Needs Trust Foundation handles all of the auditing, accounting, etc. for us.  I have found it easy to request a distribution and receive the funds in a timely manner.

What is your recommendation to families or individuals in similar situations?

I would highly recommend the Special Needs Trust Foundation.  The staff is very helpful and responsive.  It works for our family.

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