Often, we hear that a family “has” a special needs trust. As an advisor, you may hear that too and think your client is all set. Your client might think they’re all set, too.
Before accepting this at face value, take a minute to “trust, and verify.”
What your client might really mean is that they have one of these:
- A standalone trust document that exists and will be funded after the grantor dies.
- A revocable living trust that includes language to create a special needs trust upon the grantor’s death.
- A fully funded special needs trust that is in place with an active trustee managing assets and distributions.
Options 1 and 2 are future-facing — documents that often sit untouched for years and only take effect after the grantor has passed. As a practical matter, this can leave critical issues unresolved, including:
- Named trustees may decline to serve
- The trust can’t be named as a beneficiary, creating tax and inheritance uncertainty
- Fees and investment strategies remain unknown
- Family members are left to navigate it all during a time of grief
There’s a better way.
Advisors and families can establish and fund a special needs trust during the beneficiary’s lifetime. Doing so provides clarity, continuity, and the chance for everyone involved — including the trustee — to build relationships and tailor trust services to real, evolving needs.
Visible provides the tools, guidance, and support to help you lead these conversations with your clients.
Schedule your complimentary discovery meeting with Visible today.