Should My Child’s Special Needs Trust Own a Home?

One of the biggest concerns for parents of children with disabilities is where their child will live in the future. Adequate housing options for people with disabilities is a challenge to say the least. Some parents want their child to continue to live in the family home after they are gone. Other parents consider leaving funds for their child that would allow them to own their own home. In both cases, it must be determined if the home should be owned by a Special Needs Trust. The first step is to weigh the benefits of home ownership against renting to determine the best fit.  Here is an overview of the rules and issues that can arise when a  Special Needs Trust owns a home. It is important to identify what type of trust would own the home. There are a few options. A First Party Special Needs Trust is funded with the child’s own assets, and after the disabled child’s death, the state would be reimbursed from the funds in the trust for Medicaid services…

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