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Choosing Trustees for Special Needs Trusts

One of the more challenging tasks of creating a special needs trust (SNT) is choosing who will serve as trustee.

The responsibilities of a trustee include:

  • managing the day-to-day operations of the trust;
  • making distributions to the beneficiary;
  • paying the trust's bills; and
  • investing the assets of the trust.

Some important things to consider when choosing are:

  1. How much does the trustee know about public benefit programs?
  2. How much time does the trustee have to carry out the tasks required?
  3. Have you considered a professional trust administrator?
  4. Are you comfortable with an outsider managing your loved one's trust?
  5. Would you consider a pooled trust?

Learn more about Special Needs Planning. If you are considering setting up a special needs trust for your loved one and would like guidance, give us a call at (605) 275-5665. We would be happy to help answer your questions and assist you.