Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Thursday, September 20, 2012

Reminder about a CLE on SNTs

CLE ImageALI is hosting a CLE entitled Special Needs Trusts: Issues for Estate Planners In Drafting First Party and Third Party SNTs.  The CLE will be on Wednesday, October 10, 2012 from 12:00 to 4:15 p.m. Eastern.  You also have the option to register for the video webcast for $299. The description of what you will learn is below: 

Special Needs Trusts are the cornerstone of planning for individuals with disabling conditions. Properly drafted and administered SNTs enable the beneficiaries to maintain their eligibility for various government benefit programs that help fund the cost of their care and the other special needs that arise as a result of their disabilities.

SNTs are governed by a complex web of federal and state laws and regulations that are unfamiliar to most estate planners. Traps for the unwary are numerous, and can have serious consequences for clients. Most trusts utilized in traditional estate planning do not qualify as SNTs.

There are several critical distinctions between First-Party SNTs (i.e. funded with the beneficiary’s own assets, or assets to which the beneficiary is legally entitled) and Third-Party SNTs (i.e. funded with the assets of persons other than the beneficiary), that the presenters will review in detail.

Faculty will discuss:

  • The required common elements of effective First-Party and Third-Party SNTs, and the critical differences between them.
  • A brief overview of the types of government benefits that SNT beneficiaries wish to preserve, including those that are “means-tested” and those that are employment-based.
  • Common pitfalls and traps for traditional estate planning professionals who have limited experience advising families with special needs issues.
  • How the law that drives the effectiveness of SNTs differs from the common law that governs traditional trusts.
  • Provisions in many SNT forms, and traditional estate planning trust forms, that are incompatible with the preservation of a beneficiary’s means-tested government benefits.
  • How to preserve flexibility in executed SNTs to help ensure continued compliance with rapidly evolving federal and state laws.

Join nationally recognized Special Needs Trust attorney, Kristen M. Lewis, Smith, Gambrell & Russell, LLP, Atlanta, and Jeffrey N. Pennell, Richard H. Clark Professor of Law, Emory University, Atlanta, for a thorough discussion of drafting effective First-Party and Third-Party Special Needs Trusts, with an emphasis on common traps for the unwary traditional estate planner advising families with special needs issues.

Please click here to register and to learn more about the CLE. 


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