What is a disability trust?

Disability trusts are created for the purpose of caring for a disabled person in the event of their caretaker’s death. In order for a disability trust to qualify, it must meet the following four requirements: 1) beneficiaries must be legally disabled, 2) the disability trust must be irrevocable, 3) no one else can receive funds from the disability trust except for the disabled beneficiaries, and 4) the trust funds must be used for the betterment of the disabled beneficiaries, including education, welfare, and comfort.

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UPDATED: Jul 15, 2021

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