Skip to main content Accessibility help
×
Hostname: page-component-848d4c4894-nmvwc Total loading time: 0 Render date: 2024-06-16T19:54:46.567Z Has data issue: false hasContentIssue false

Part III - Special Needs Trust

Published online by Cambridge University Press:  28 June 2019

Lusina Ho
Affiliation:
The University of Hong Kong
Rebecca Lee
Affiliation:
The University of Hong Kong
Get access

Summary

This chapter evaluates the operation of Midwest Special Needs Trust (MSNT), an organisation created to establish and administer special needs trusts. A special needs trust is used as a fiduciary tool to serve persons with disabilities so that their assets do not affect the eligibility of means-tested social benefits. It starts with an account of the history of MSNT, and then examines the specific definitions and requirements of MSNT trust accounts, the roles and responsibilities of the Trustee and co-trustees, and the merits of MSNT. This chapter also considers important aspects of the administration of MSNT, such as the establishment and termination of trust accounts, staffing, fees and expenses, data management, and investment policy. Real-life cases are discussed throughout to show how MSNT helps to improve the quality of life of the disabled. This chapter concludes with thoughts on the future development of special needs trusts, including MSNT service enhancements and other financial tools, to assist the population with disabilities.

Type
Chapter
Information
Special Needs Financial Planning
A Comparative Perspective
, pp. 237 - 364
Publisher: Cambridge University Press
Print publication year: 2019

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×