Skip to main content

Creating a Trust for a Special Needs Child

09/24/2013 06:38PM, Published by Brian O, Categories: Sports & Rec, Health, Today



By: Mary Schilling, Agent, New York Life Insurance Company

If you’re a parent of a special needs child you’re probably well aware of how complicated and expensive it can be to make sure your child has the proper care. And often times this is a lifelong commitment. From housing, to healthcare, to even the most basic everyday needs—all these expenses add up. And while it may be tough to meet these obligations now, imagine how hard it would be without your income. That’s where a special needs trust can help.

 If your child receives benefits from Supplemental Security Income (SSI) and Medicaidit’s important to remember that any income or assets in their name can affect their eligibility. A special needs trust may provide a way to protect those assets, making sure your child has the resources he or she may need without risking the loss of valuable government benefits. More importantly, if something happens to you, a special needs trust may help provide the necessary means for your loved one’s continued care, basic necessities, and additional expenses—even those that may not be federally subsidized, like specialized medical therapies, education, and transportation.

You will need to work with an attorney to create the trust. Once it’s been created, you can fund it in a variety of ways. In fact, you may want to explore the benefits of funding a special needs trust with a permanent whole life or universal life insurance policy. Both provide death benefit protection2, allow tax-deferred cash value accumulation, and can be made to suit your specific needs and budget. Your life insurance Agent can help you determine how much money you need in the trust, and discuss affordable options that are best for you.

If you provide care for a person with special needs or wish to create a substantial gift, a special needs trust can be of tremendous help. Plus, it’s one of the few estate-planning strategies that can protect your loved one’s eligibility for federal assistance.3 And, when funded by life insurance, a special needs trust may provide an affordable solution that can last for years to come.

 

1Known as Medi-Cal in California.
2Provided premium requirements are met.
3Consult with local tax and legal advisers to see if state benefits may be affected and for information on trust and taxes.  Neither New York Life nor its agents provide legal or tax advice.


special needs trust cost money stability future


  • Toddler Time

    05/30/2017
    09:30AM — 11:30AM

    If they can walk, they can jump! Toddler Time at Sky Zone is a special time just for the little o...


  • Storytime Tuesdays

    05/30/2017
    10:00AM — 10:30AM

    Bring your kids to a storytime every Tuesday at Child's Play Toys. It starts off with a few songs...


  • Milk Monologues

    05/31/2017
    01:00PM — 02:00PM

    Join Shelly (CLC) or Sarah if you are the mom of a non-mobile nursing baby. One of them will be a...


  • Kids Crafter'noon

    05/31/2017
    04:00PM — 05:30PM

    Tissue Transfer Art We will be using tissue paper and water to create a work of art! All ages...


  • Toddler Time

    06/01/2017
    09:30AM — 11:30AM

    If they can walk, they can jump! Toddler Time at Sky Zone is a special time just for the little o...


  • Handwriting Camp

    06/01/2017
    11:00AM — 11:30AM

    Does your child have messy handwriting? Difficulty forming letters? Our experienced Occupational ...


  • Handwriting Camp

    06/01/2017
    12:00PM — 12:30PM

    Does your child have messy handwriting? Difficulty forming letters? Our experienced Occupational ...


  • Power Reading & Spelling Camp

    06/01/2017
    12:00PM — 12:30PM

    One-on-one tutoring with a licensed teacher for school-aged children (grades K-4), who are strugg...


  • Power Mobility Camp

    06/01/2017
    12:00PM — 12:30PM

    Do you wonder if your child would benefit from power mobility? Let our experts assess and develop...


  • New Baby & Me

    06/01/2017
    01:30PM — 03:30PM

    This group for new moms and their babies meets weekly. Moms can join in open discussion on topics...


  • SuperSitters Babysitting Smarts

    06/02/2017
    08:00AM

    Learn basic care techniques for infants and children, age appropriate play time, feeding, bed...


  • Birth Boot Camp Childbirth Class Series

    06/02/2017
    08:00AM — 10:00AM

    Birth Boot Camp childbirth series. This is a 10 week comprehensive class. We meet every Tuesday f...


  • Ribfest

    06/02/2017
    11:00AM — 11:00PM

    The 20th Annual RibFest will be held at the W.H. Lyon Fairgrounds on June 1-3, 2017. Thursday...


  • Animals on the Amphitheater

    06/02/2017
    11:00AM — 11:45AM

    An event the whole family will love – meet four live animals with the Great Plains Zoo’s ZooExpre...


  • Free First Friday

    06/02/2017
    05:00PM — 08:00PM

    Join us for Free First Fridays, whether you are new to the area, new to the Pavilion, or even a r...


  • Pavilion Free First Fridays

    06/02/2017
    05:00PM — 08:00PM

    Join us for Free First Fridays, whether you are new to the area, new to the Pavilion, or even a r...


  • Downtown Block Party on the Eastbank

    06/02/2017
    05:30PM — 11:00PM

    Come downtown to the Eastbank for the First Friday Block Party the first Friday of June, July, Au...


  • The Greatest Show on H20 Catfish Bay

    06/02/2017
    07:00PM — 09:00PM

    The Greatest Show On H2O at Catfish Bay is a fun family event. The show has comedy, acting, and m...


  • SuperSitters Babysitting Smarts

    06/03/2017
    08:00AM

    Learn basic care techniques for infants and children, age appropriate play time, feeding, bed...


  • Cloth Diapering 101

    06/03/2017
    09:30AM — 10:30AM

    Monthly on the first Saturday


  • Babywearing 101

    06/03/2017
    09:30AM — 10:30AM

    Monthly on the first Saturday


  • Falls Park Farmer's Market

    06/03/2017
    10:00AM — 01:00PM

    Falls Park Farmers Market is the place to get your weekly supply of fresh flowers, vegetables, me...


  • Kick-off summertime with a cupcake design that looks like an ice cream sundae! Lots of frosting, ...


  • Ribfest

    06/03/2017
    11:00AM — 11:00PM

    The 20th Annual RibFest will be held at the W.H. Lyon Fairgrounds on June 1-3, 2017. Thursday...


  • Breastfeeding 101

    06/03/2017
    01:00PM — 02:00PM

    Monthly on the first Saturday


  • Early Pregnancy Class

    06/03/2017
    01:00PM — 03:30PM

    Learn what you need to know to have a healthy pregnancy. Meet once for 2.5 hours. Workbook includ...


  • Saturday Cookie Decorating Days

    06/03/2017
    02:00PM — 04:30PM

    Call us by Friday 605-978-0991 and you can come in and decorate cookies on Saturday! We do cookie...


  • Princess PJ Party

    06/03/2017
    05:00PM — 07:00PM

    Simply Ever After Entertainment invites you to our 'end of the school year' Princess PJ Party! We...


  • Moonlight Movies

    06/03/2017
    08:30PM

    Bring a blanket or chair, and enjoy a free outdoor movie in the park! Popcorn, candy, soda and w...


  • Flag Day

    06/04/2017
    07:00PM — 08:00PM

    Join us in celebrating Flag Day as we honor our nation's greatest symbol, the American flag. A pa...


  • The Greatest Show on H20 Catfish Bay

    05/29/2017
    02:00PM — 04:00PM

    The Greatest Show On H2O at Catfish Bay is a fun family event. The show has comedy, acting, and m...


  • Toddler Time

    05/30/2017
    09:30AM — 11:30AM

    If they can walk, they can jump! Toddler Time at Sky Zone is a special time just for the little o...


  • Storytime Tuesdays

    05/30/2017
    10:00AM — 10:30AM

    Bring your kids to a storytime every Tuesday at Child's Play Toys. It starts off with a few songs...


  • Milk Monologues

    05/31/2017
    01:00PM — 02:00PM

    Join Shelly (CLC) or Sarah if you are the mom of a non-mobile nursing baby. One of them will be a...


  • Kids Crafter'noon

    05/31/2017
    04:00PM — 05:30PM

    Tissue Transfer Art We will be using tissue paper and water to create a work of art! All ages...


  • Toddler Time

    06/01/2017
    09:30AM — 11:30AM

    If they can walk, they can jump! Toddler Time at Sky Zone is a special time just for the little o...


  • Handwriting Camp

    06/01/2017
    11:00AM — 11:30AM

    Does your child have messy handwriting? Difficulty forming letters? Our experienced Occupational ...


  • Handwriting Camp

    06/01/2017
    12:00PM — 12:30PM

    Does your child have messy handwriting? Difficulty forming letters? Our experienced Occupational ...


  • Power Reading & Spelling Camp

    06/01/2017
    12:00PM — 12:30PM

    One-on-one tutoring with a licensed teacher for school-aged children (grades K-4), who are strugg...


  • Power Mobility Camp

    06/01/2017
    12:00PM — 12:30PM

    Do you wonder if your child would benefit from power mobility? Let our experts assess and develop...


  • New Baby & Me

    06/01/2017
    01:30PM — 03:30PM

    This group for new moms and their babies meets weekly. Moms can join in open discussion on topics...


  • SuperSitters Babysitting Smarts

    06/02/2017
    08:00AM

    Learn basic care techniques for infants and children, age appropriate play time, feeding, bed...


  • Birth Boot Camp Childbirth Class Series

    06/02/2017
    08:00AM — 10:00AM

    Birth Boot Camp childbirth series. This is a 10 week comprehensive class. We meet every Tuesday f...


  • Animals on the Amphitheater

    06/02/2017
    11:00AM — 11:45AM

    An event the whole family will love – meet four live animals with the Great Plains Zoo’s ZooExpre...


  • Ribfest

    06/02/2017
    11:00AM — 11:00PM

    The 20th Annual RibFest will be held at the W.H. Lyon Fairgrounds on June 1-3, 2017. Thursday...


  • Pavilion Free First Fridays

    06/02/2017
    05:00PM — 08:00PM

    Join us for Free First Fridays, whether you are new to the area, new to the Pavilion, or even a r...


  • Free First Friday

    06/02/2017
    05:00PM — 08:00PM

    Join us for Free First Fridays, whether you are new to the area, new to the Pavilion, or even a r...


  • Downtown Block Party on the Eastbank

    06/02/2017
    05:30PM — 11:00PM

    Come downtown to the Eastbank for the First Friday Block Party the first Friday of June, July, Au...


  • The Greatest Show on H20 Catfish Bay

    06/02/2017
    07:00PM — 09:00PM

    The Greatest Show On H2O at Catfish Bay is a fun family event. The show has comedy, acting, and m...


  • SuperSitters Babysitting Smarts

    06/03/2017
    08:00AM

    Learn basic care techniques for infants and children, age appropriate play time, feeding, bed...


  • Cloth Diapering 101

    06/03/2017
    09:30AM — 10:30AM

    Monthly on the first Saturday


  • Babywearing 101

    06/03/2017
    09:30AM — 10:30AM

    Monthly on the first Saturday


  • Falls Park Farmer's Market

    06/03/2017
    10:00AM — 01:00PM

    Falls Park Farmers Market is the place to get your weekly supply of fresh flowers, vegetables, me...


  • Kick-off summertime with a cupcake design that looks like an ice cream sundae! Lots of frosting, ...


  • Ribfest

    06/03/2017
    11:00AM — 11:00PM

    The 20th Annual RibFest will be held at the W.H. Lyon Fairgrounds on June 1-3, 2017. Thursday...


  • Breastfeeding 101

    06/03/2017
    01:00PM — 02:00PM

    Monthly on the first Saturday


  • Early Pregnancy Class

    06/03/2017
    01:00PM — 03:30PM

    Learn what you need to know to have a healthy pregnancy. Meet once for 2.5 hours. Workbook includ...


  • Saturday Cookie Decorating Days

    06/03/2017
    02:00PM — 04:30PM

    Call us by Friday 605-978-0991 and you can come in and decorate cookies on Saturday! We do cookie...


  • Princess PJ Party

    06/03/2017
    05:00PM — 07:00PM

    Simply Ever After Entertainment invites you to our 'end of the school year' Princess PJ Party! We...


  • Moonlight Movies

    06/03/2017
    08:30PM

    Bring a blanket or chair, and enjoy a free outdoor movie in the park! Popcorn, candy, soda and w...


  • Flag Day

    06/04/2017
    07:00PM — 08:00PM

    Join us in celebrating Flag Day as we honor our nation's greatest symbol, the American flag. A pa...


  • SuperSitters Babysitting Smarts

    06/05/2017
    08:00AM

    Learn basic care techniques for infants and children, age appropriate play time, feeding, bed...


  • Children's Free Activities

    06/05/2017
    09:00AM — 04:00PM

    Join us at the Museum of Visual Materials for these free activities. No registration is required ...


  • SuperSitters Babysitting Smarts

    06/06/2017
    08:00AM

    Learn basic care techniques for infants and children, age appropriate play time, feeding, bed...


  • SD Work Comp Summit

    06/06/2017
    09:00AM — 07:00PM

    The South Dakota Workers’ Compensation Summit is a two-day educational summit structured to allow...


  • Children's Free Activities

    06/06/2017
    09:00AM — 04:00PM

    Join us at the Museum of Visual Materials for these free activities. No registration is required ...


  • Toddler Time

    06/06/2017
    09:30AM — 11:30AM

    If they can walk, they can jump! Toddler Time at Sky Zone is a special time just for the little o...


  • Storytime Tuesdays

    06/06/2017
    10:00AM — 10:30AM

    Bring your kids to a storytime every Tuesday at Child's Play Toys. It starts off with a few songs...


  • Children's Safety Camp

    06/06/2017
    12:30PM — 03:30AM

    Do your kids know what to do in an emergency? Do they know the skills to keep them safe in case ...


  • Social Skills Camp

    06/06/2017
    04:30PM — 05:30PM

    Tuesday or Wednesday, June 6-Aug. 9; Time: 4:30-5:30pm Group experiences to build social awarene...


  • Children's Free Activities

    06/07/2017
    09:00AM — 04:00PM

    Join us at the Museum of Visual Materials for these free activities. No registration is required ...


  • Milk Monologues

    06/07/2017
    01:00PM — 02:00PM

    Join Shelly (CLC) or Sarah if you are the mom of a non-mobile nursing baby. One of them will be a...


  • Babywearing Basics (SF Babywearers)

    06/07/2017
    06:30PM — 08:00PM

    Monthly on the first Wednesday


  • Avera Sports Medicine Symposium

    06/08/2017
    08:30AM

    Location: Ramkota Hotel Information: 605-322-7879 averaeducation@avera.org Registration: Aver...


  • Avera Therapy Pediatric Summer Camps

    06/08/2017
    09:00AM — 10:30AM

    Come join the fun! Little Critters offers an opportunity for your child to participate in a stru...


  • Toddler Time

    06/08/2017
    09:30AM — 11:30AM

    If they can walk, they can jump! Toddler Time at Sky Zone is a special time just for the little o...


  • Children's Safety Camp

    06/08/2017
    12:30PM — 03:30PM

    Do your kids know what to do in an emergency? Do they know the skills to keep them safe in case ...


  • New Baby & Me

    06/08/2017
    01:30PM — 03:30PM

    This group for new moms and their babies meets weekly. Moms can join in open discussion on topics...


  • Weather Camp with Meteorologist Brian Karstens

    06/08/2017
    02:00PM — 04:00PM

    Looking for a fun, hands-on science camp this summer? Meteorologist Brian Karstens will have an o...


  • Avera Therapy Pediatric Summer Camps

    06/08/2017
    03:30PM — 04:30PM

    Tired of every meal time being a battle? Looking for ways to encourage your picky eater to try s...


  • Baby in Our Family

    06/08/2017
    06:30PM — 08:30PM

    The Breastfeeding class is a one night class designed for those who are planning on breastfeeding...


  • Birth Boot Camp Childbirth Class Series

    06/09/2017
    08:00AM — 10:00AM

    Birth Boot Camp childbirth series. This is a 10 week comprehensive class. We meet every Tuesday f...


  • Legends Clinic for Kids

    06/09/2017
    09:00AM — 08:30PM

    Ages 5-18 Soccer Clinic Sanford Fieldhouse 9:00 AM – 11:00 AM Hockey Clinic Scheels Iceple...


  • The Greatest Show on H20 Catfish Bay

    06/09/2017
    07:00PM — 09:00PM

    The Greatest Show On H2O at Catfish Bay is a fun family event. The show has comedy, acting, and m...


  • It's All About Science Festival

    06/10/2017
    08:00AM — 05:00PM

    The summer’s won’t-miss-it event returns this year better than ever! The all-day festival is f...


  • President's Bowl 5K

    06/10/2017
    09:00AM — 12:00PM

    The President's Bowl benefits the 3 Sioux Falls high schools. It funds the Booster Clubs and all ...


  • Royalwood Dairy Lunch on the Farm

    06/10/2017
    09:00AM — 01:00PM

    The Ode family will be hosting a lunch on the farm at their dairy, Royalwood Dairy near Brandon o...


  • Legends Clinic for Kids

    06/10/2017
    09:00AM — 02:30PM

    Basketball Clinic Sanford Pentagon 9:00 AM – 11:00 AM Tennis Clinic Huether Family Match Po...


  • Super Second Saturdays

    06/10/2017
    10:00AM — 02:00PM

    Super 2nd Saturday is a special new program for our patrons! Each month features new exciting, ed...


  • Falls Park Farmer's Market

    06/10/2017
    10:00AM — 01:00PM

    Falls Park Farmers Market is the place to get your weekly supply of fresh flowers, vegetables, me...


  • Infant CPR

    06/10/2017
    11:00AM — 12:00PM

    Monthly on the second Saturday


  • Saturday Cookie Decorating Days

    06/10/2017
    02:00PM — 04:30PM

    Call us by Friday 605-978-0991 and you can come in and decorate cookies on Saturday! We do cookie...


  • Moonlight Movies

    06/10/2017
    08:30PM

    Bring a blanket or chair, and enjoy a free outdoor movie in the park! Popcorn, candy, soda and w...


  • Children's Free Activities

    06/12/2017
    09:00AM — 04:00PM

    Join us at the Museum of Visual Materials for these free activities. No registration is required ...


  • Latches

    06/12/2017
    06:30PM — 08:00PM

    Breastfeeding takes a village. Nourish your baby in a safe, comfortable place, surrounded by your...



Image title

Image title