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[quote=Anonymous]

OP - I would second the advice that you and the relative go to a lawyer who does have experience in special needs trusts and not just a trust and estate lawyer.  If the funds will be given now as opposed at time of death, then you would need to set up a bank account with the trust name on it.  In many ways having such a financial vehicle with some money in it is just good sense in case of a common disaster.  I would think that for now you and  your husband would be the co-trustees with perhaps an alternate trustee listed in the event of a common disaster.

Since you are looking into this, it also makes sense for you to be sure that you have a will and guardianship set in place for DC and all minor children.  Within your estate planning you would note the percentages that would go to the SNT for your child with the special needs and the percentage to other children.  A SNT can also list beneficiaries for any remaining balance upon the passing of the person for whom it was set up.  This is an important caveat that the new ABLE account does not have and there is a limit to how much could be in an able account.

The usual advice is that the Executor of your estate need not be the person who will be Trustee of the Special Needs Trust.  If the estate now or in the future is a certain amount, one can have a bank officer serve as trustee I think or as a fallback trustee if no one else.  Again, this is an area that will probably be one for review every few years.  Everyone's situation is unique.[/quote]

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