Yesterday, President Obama signed the 21st Century Cures Act. This includes a subsection known as the Special Needs Trust Fairness Act. Effective immediately, disabled persons with capacity can now establish and sign their own special needs trust. Previously, the law only allowed a parent, grandparent, guardian or court could establish a first party special needs trust. This added a great deal of unnecessary expense to the establishment of these trusts for disabled persons with capacity that did not have a living parent or grandparent, as the only way that a special needs trust could be established for them was through a court order.
* The information contained in this Blog is intended for general information and educational purposes only and does not constitute legal advice or an opinion of counsel.