# Legal & Financial Planning — Special Needs Trusts

- Ivailo Grigorov covered SSI & SSDI, Medicaid & Waivers, ABLE accounts, special needs trusts, and other important considerations to help family members better understand how planning for a child with special needs is different both legally & financially. — *[Ivailo Grigorov, Nov 2022](/sessions/20221120_Ivailo_Grigorov_Financial_Planning/notes.md)*

- My biggest takeaway was that probate takes 9 months and will cost 1% of your assets. My son's ABA therapy cannot be delayed by a year without setting him back significantly. Also ABA is expensive, so I don't want to put that burden on a family member while they wait for probate. Setting up a special needs trust was a no brainer for my family. We went with Casey's firm. It was a quick process and it only required a couple hours of our time. I would do it again. — *[Casey Connealy, Feb 2023](/sessions/20230219_Casey_Connealy_Estate_Planning/notes.md)*

- Separate legal entity funded upon your death per your revocable trust — *[Assured Trust, Sep 2025](/sessions/20250921_Assured_Trust_Legal_Tools/notes.md)*

- Samantha recommends **"stand alone" trust** bearing the individual's name (easier to administer vs sub-trust) — *[Assured Trust, Sep 2025](/sessions/20250921_Assured_Trust_Legal_Tools/notes.md)*

- Wills trigger probate (6-18 months, costly) — *[Assured Trust, Sep 2025](/sessions/20250921_Assured_Trust_Legal_Tools/notes.md)*

- **Types:** — *[Assured Trust, Sep 2025](/sessions/20250921_Assured_Trust_Legal_Tools/notes.md)*
    - **Third-Party SNT:** Established by parents/relatives; avoids Medicaid payback; parents control remainder beneficiaries
    - **First-Party SNT:** Funded with beneficiary's own assets (settlements, GoFundMe); subject to Medicaid payback at death

- Funding: Life insurance, real estate, farmland, retirement accounts, inheritances — *[Assured Trust, Sep 2025](/sessions/20250921_Assured_Trust_Legal_Tools/notes.md)*

- Kansas follows federal estate thresholds (~$30M for couples); Illinois has ~$1M threshold — plan carefully with multi-state assets — *[Assured Trust, Sep 2025](/sessions/20250921_Assured_Trust_Legal_Tools/notes.md)*

- Medicare 5-year "lookback" — BUT **contributions to a special needs trust are NOT included!** — *[Assured Trust, Sep 2025](/sessions/20250921_Assured_Trust_Legal_Tools/notes.md)*

- **ALL family members (including grandparents) must structure inheritances through SNT to prevent SSI disqualification** — *[Assured Trust, Sep 2025](/sessions/20250921_Assured_Trust_Legal_Tools/notes.md)*

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