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What Is a Special Needs Trust? Definition, Uses and Importance.

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A Special Needs Trust will allow the beneficiary of a trust to have their assets protected so that they are not subject to qualification requirements for certain benefits.

The portion of a person’s financial need not covered by public assistance is taken care of through a special needs trust. As long as the assets in the trust are not used for specified food or housing expenditures, they do not count for public assistance reasons. Medical bills, caretakers’ wages, transportation charges, and other approved expenses are popular uses of this sort of trust.

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