New Law Allows For Self-Settled Special Needs Trusts

New Law Allows For Self-Settled Special Needs Trusts

December 20, 2016

By: Eric J. Sachtjen

On December 13, 2016, President Obama signed the 21st Century Cures Act which now allows individuals with disabilities with capacity to create their own self-settled special needs trust. Before the enactment of this law, individuals with disabilities had to rely upon third parties or the court to establish a special needs trust for their benefit. The new law allows capable individuals with disabilities to act in their own best interests without having to rely upon third parties or the court. This continues and expands a movement to enable individuals with disabilities to set aside additional funds for their survival.