Book contents
- Special Needs Financial Planning
- Special Needs Financial Planning
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Preface
- Table of Cases
- Table of Legislation
- Part I Adult Guardianship
- Part II Lasting/Enduring Power of Attorney
- Part III Special Needs Trust
- 9 What Will Happen When I’m Gone?
- 10 The Wispact Trusts: Making a Difference in a Means-Tested Support System
- 11 SNTC’s Operational Experience as Singapore’s First Non-Profit Trust Company
- 12 A New Perspective on Adult Guardianship and Trusts in Korea
- 13 Reforming Enduring Powers and Launching a Special Needs Trust in Hong Kong
- Index
9 - What Will Happen When I’m Gone?
from Part III - Special Needs Trust
Published online by Cambridge University Press: 28 June 2019
- Special Needs Financial Planning
- Special Needs Financial Planning
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Preface
- Table of Cases
- Table of Legislation
- Part I Adult Guardianship
- Part II Lasting/Enduring Power of Attorney
- Part III Special Needs Trust
- 9 What Will Happen When I’m Gone?
- 10 The Wispact Trusts: Making a Difference in a Means-Tested Support System
- 11 SNTC’s Operational Experience as Singapore’s First Non-Profit Trust Company
- 12 A New Perspective on Adult Guardianship and Trusts in Korea
- 13 Reforming Enduring Powers and Launching a Special Needs Trust in Hong Kong
- Index
Summary
This chapter evaluates the operation of Midwest Special Needs Trust (MSNT), an organisation created to establish and administer special needs trusts. A special needs trust is used as a fiduciary tool to serve persons with disabilities so that their assets do not affect the eligibility of means-tested social benefits. It starts with an account of the history of MSNT, and then examines the specific definitions and requirements of MSNT trust accounts, the roles and responsibilities of the Trustee and co-trustees, and the merits of MSNT. This chapter also considers important aspects of the administration of MSNT, such as the establishment and termination of trust accounts, staffing, fees and expenses, data management, and investment policy. Real-life cases are discussed throughout to show how MSNT helps to improve the quality of life of the disabled. This chapter concludes with thoughts on the future development of special needs trusts, including MSNT service enhancements and other financial tools, to assist the population with disabilities.
Keywords
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- Information
- Special Needs Financial PlanningA Comparative Perspective, pp. 239 - 267Publisher: Cambridge University PressPrint publication year: 2019