Special Needs Trust assets
I have a special needs revocable trust and also a will set up for my daughter. An annuity was established to protect assets from a 403B retirement, but I have brokerage accounts, savings accounts etc. to fund the trust as well after I die. At 85, I’m on the downside of the mountain. Would it be wise to consolidate all accounts and assets and place everything at single institution? Do you have any recommendations for institutions?
Terry Says
I have a recommendation for an advisor — Mary Ann Ehlert of Protected Tomorrows.
She has a large non-profit dedicated to financial planning for people with disabled children. I would start with her advice.
Obviously you have an estate planning attorney, but have you followed through re-titling these assets in the name of the trust, or listing that trust as beneficiary where applicable? Most important, have you gone over all these plans with a successor trustee who is capable and willing to act?
Under these unusual circumstances, I’d suggest you talk with Mary Anne and get at least a review of how things will proceed, and if additional changes are necessary.
