Oregon Acuerdo de fideicomiso - Necesidades especiales de la familia - Trust Agreement - Family Special Needs

• Category: Fideicomisos - Acuerdos - Familia
• State: Multi-State
• Control #: US-00646
• Format: Word

Description

The grantor establishes an irrevocable trust and assigns, conveys, transfers and delivers to the trustee certain property and the trustee accepts such property as the initial trust estate. It is the grantor's primary concern that the trust continue in existence as a supplemental and emergency fund to public assistance for the sake of the beneficiary throughout his/her life. Other provisions of the trust agreement include: the management and disposition of the trust estate, trustee powers, and additional optional clauses. Oregon Trust Agreement — Family Special Needs is a legal document created for families in Oregon that have a member with special needs. This trust agreement ensures that the person with special needs receives continuous care and support while protecting their eligibility for government benefits. The Oregon Trust Agreement — Family Special Needs can be tailored to meet the specific needs of the individual and their family. There are several types or variations of this trust agreement, each addressing different aspects of the beneficiary's special needs. These types may include: 1. Supplemental Care Trust: This type of trust allows the beneficiary to maintain eligibility for means-tested government benefits such as Medicaid and Supplemental Security Income (SSI) while providing supplementary support to enhance their quality of life. It can cover expenses like medical care, therapies, educational services, transportation, and recreational activities. 2. Third-Party Special Needs Trust: This trust is created by a family member or someone other than the beneficiary themselves. It allows them to set aside funds and assets for the special needs individual's benefit without jeopardizing their eligibility for public assistance programs. 3. First-Party Special Needs Trust: Also known as a "self-settled" trust, this type of trust is funded with the beneficiary's own assets, such as an inheritance or a personal injury settlement. It enables them to protect and manage these assets while still qualifying for government benefits. 4. Pooled Special Needs Trust: This trust is managed by a nonprofit organization or financial institution that combines the assets of multiple beneficiaries for investment purposes. It provides an alternative for families who may not have sufficient assets to create an individual trust. In Oregon, a properly drafted and executed Trust Agreement — Family Special Needs can protect the beneficiary's eligibility for government assistance programs, ensure that their needs are met, and provide peace of mind for their family. It is important to consult with an experienced attorney specializing in special needs planning to create a trust agreement that aligns with the specific circumstances and goals of each family.

Oregon Trust Agreement — Family Special Needs is a legal document created for families in Oregon that have a member with special needs. This trust agreement ensures that the person with special needs receives continuous care and support while protecting their eligibility for government benefits. The Oregon Trust Agreement — Family Special Needs can be tailored to meet the specific needs of the individual and their family. There are several types or variations of this trust agreement, each addressing different aspects of the beneficiary's special needs. These types may include: 1. Supplemental Care Trust: This type of trust allows the beneficiary to maintain eligibility for means-tested government benefits such as Medicaid and Supplemental Security Income (SSI) while providing supplementary support to enhance their quality of life. It can cover expenses like medical care, therapies, educational services, transportation, and recreational activities. 2. Third-Party Special Needs Trust: This trust is created by a family member or someone other than the beneficiary themselves. It allows them to set aside funds and assets for the special needs individual's benefit without jeopardizing their eligibility for public assistance programs. 3. First-Party Special Needs Trust: Also known as a "self-settled" trust, this type of trust is funded with the beneficiary's own assets, such as an inheritance or a personal injury settlement. It enables them to protect and manage these assets while still qualifying for government benefits. 4. Pooled Special Needs Trust: This trust is managed by a nonprofit organization or financial institution that combines the assets of multiple beneficiaries for investment purposes. It provides an alternative for families who may not have sufficient assets to create an individual trust. In Oregon, a properly drafted and executed Trust Agreement — Family Special Needs can protect the beneficiary's eligibility for government assistance programs, ensure that their needs are met, and provide peace of mind for their family. It is important to consult with an experienced attorney specializing in special needs planning to create a trust agreement that aligns with the specific circumstances and goals of each family.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.