Sheri R. Abrams Blog Can I Change My Child's Special Needs Trust?

Parents often create Special Needs Trusts with lifetime care needs in mind. The resources put into the Trust are meant to last years, and in a lot of cases decades. While parents do their best to plan for situations that may occur in the future, there will likely come a time when provisions in the Special Needs Trust need to be updated or changed altogether. The good news is that a Special Needs Trust is a flexible document and not something that's "set in stone." It's meant to evolve and grow with your family. We generally say that you should update your trust if your family experiences a significant life change or if you change your mind about any of the provisions in the Trust. Such changes may include: You're no longer happy with your choice of Successor Trustee; Your Successor Trustee has passed away or is no longer capable of serving in such a role; A parent was serving as Trustee but is now dealing with a health or personal challenge that makes continuing in the role difficult and it's time to pass the torch to the next in line. Mom or dad's assets have changed-maybe following the purchase [...]The post Can I Change My Child's Special Needs Trust? appeared first on Virginia Social Security Disability & Special Needs Planning Attorney.