An Act relative to special needs trusts and pensions
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill addresses the preservation and protection of special needs trusts for individuals with disabilities. It aims to ensure that these trusts continue to provide crucial support and maintain eligibility for vital public benefits. The legislation seeks to clarify and strengthen the legal framework surrounding these trusts, safeguarding the financial security of beneficiaries. It builds upon previous attempts to address similar concerns within the state.
Key provisions
- Clarifies the requirements for establishing and maintaining special needs trusts.
- Protects the eligibility of beneficiaries for public assistance programs while holding assets in a special needs trust.
- Addresses potential conflicts between special needs trusts and other government benefits.
- Provides guidance on trust administration and fiduciary responsibilities.
- Ensures trust assets remain available for the beneficiary's needs.
- Streamlines the process for establishing and modifying special needs trusts.
Who is affected
- Individuals with disabilities
- Families of individuals with disabilities
- Trustees of special needs trusts
- State agencies administering public assistance programs
- Legal professionals specializing in estate planning and special needs law
Notable changes
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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