Guest Post by Robert G. Gunderson Attorney At Law
The purpose of this memorandum is to provide some guidance for the trustee’s administration of a Supplemental Needs Trust.
The Trust is specifically designed to protect the continued eligibility for public benefits, most importantly Medical Assistance (M.A.) and Supplemental Social Security Income (S.S.I.), while providing for [...]
A Trustee is a fiduciary and is subject to the commonly recognized fiduciary duties of diligence, loyalty, obedience and prudence. All trustees are required to:
- Maintain accurate records
- Invest the funds as a reasonably prudent investor
- File all appropriate tax returns and accountings
- Comply with the terms of the trust document itself
Duties and Responsibilities [...]
A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” If you have been appointed the trustee of a trust, this is a strong vote of confidence in your judgment and [...]
