The U.S. Census Department estimates that approximately 20 percent of the U.S. population is living with a physical or mental disability. For a parent of a child who is born with a serious medical condition or who is diagnosed with major depressive disorder, there are often many questions, worries and concerns about a child’s future and how he or she will fair once a parent passes.
Parents who wish to provide for a child with a disabling physical or mental injury or condition may choose to establish a special needs trust. While a special needs trust is similar to other types of trusts which regard to how it is funded, there are important provisions that must be included to help protect a beneficiary's eligibility and access to federal benefits.
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