If you have a special needs child, it’s important for you to understand the difference in outcome between leaving them assets in a will or a trust.

A Last Will and Testament

• If you give assets to a special needs child via a will, the assets are now considered property owned by the child.
• The value of the assets may eliminate the opportunity for a child with special needs to obtain assistance from available local, state or federal assistance programs.

A Living Trust or a Testamentary Trust

• If your trust has instructions to manage assets on behalf of a special needs child, these assets are not considered to be owned by the special needs child.
• The value of these assets is not considered when applying for local, state or federal assistance