Earlier this week, on December 7, Congress passed the Special Needs Trust Fairness Act, the bill awaits approval by the president. This will be a great benefit to many people with disabilities who have their own money, perhaps through an inheritance or a gift. This bill amends a section of the Social Security Act (42 U.S.C. 1396p(d)(4)(A)) to allow individuals with disabilities under the age of 65 to establish their own supplemental needs trusts. Previously only a parent, grandparent, guardian or a court could set up such a trust with a person's own money, because the law mistakenly presumed that persons with special needs did not have the mental capacity to do it themselves. President Obama is expected to sign it and it will be effective immediately.
11/15/2022 07:56:19 am
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Lisa Knauf is an attorney whose practice is focused on estate planning, probate administration, and elder law matters.