Avoid These Costly Special Needs Trust Mistakes | Special Needs Planning Series

Setting up a Special Needs Trust (SNT) is one of the most important steps in securing a loved one’s financial future—but many families make costly mistakes that could put essential benefits like SSI and Medicaid at risk. In this webinar, we break down critical planning errors and explain how to avoid them to protect your loved one’s security and independence. 💡 What You’ll Learn: ✅ How Special Needs Trusts work and why they’re essential ✅ First-Party vs. Third-Party SNTs – Why the difference matters ✅ Common trust administration mistakes that could cause benefit loss ✅ The biggest misconceptions about guardianship, POAs, and benefit eligibility ✅ How to test your plan to make sure it actually works when needed Many families unknowingly create trusts that don’t comply with legal requirements, mismanage trust funds, or fail to plan for long-term financial oversight. Don’t let these avoidable errors threaten your loved one’s future—watch now to learn what every family should know! 📞 Need Help Setting Up or Reviewing a Trust? Our law firm specializes in Special Needs Planning and can ensure your trust is structured properly. Contact us to schedule a consultation. 🔔 Subscribe for More Insights: Stay informed on SSI, Medicaid, and Special Needs Planning—subscribe and turn on notifications for expert advice! 📢 Watch Next: Learn how ABLE Accounts can work alongside Special Needs Trusts in our webinar, “Gifting to Persons with Disabilities Through ABLE Accounts. Disclaimer: This video is for educational purposes only and does not constitute legal advice. Viewing does not create an attorney-client relationship. For personalized guidance, consult a qualified attorney. Chapters: 0:00 Intro 2:02 Purposes of a Special Needs Trust 3:04 What is a Special Needs Trust (SNT)? 7:03 Whose money is it? 8:57 Third-Party SNTs 13:15 First-Party SNTs 18:24 Mistake #10: Confusing Public Benefit Programs 22:57 Mistake #9: Confusing the Different Types of SNTs 28:53 Mistake #8: Improper Planning and Drafting/Not Updating the Plan 31:37 Mistake #7: Poorly Planned Management Team 37:50 Mistake #6: Failing to Reform Defective Trusts 40:13 Mistake #5: Not Understanding the Options 43:27 Mistake #4: Poor Administration 46:49 Mistake #3: Trustee Doesn’t Understand ISM 49:41 Mistake #2: Opting for a Guardianship When POA Would Suffice 51:05 Mistake #1: Not Testing the Plan #SpecialNeeds #Law #Disability #SpecialNeedsTrust #SSI #MedicaidPlanning #EstatePlanning #TrustAdministration #SpecialNeedsPlanning #MichiganLawCenter