Special needs trust

Discussion in 'Countable Income' started by Jak, Oct 17, 2015.

  1. Jak

    Jak Newbie

    When my father went to live in a ALF a legal firm helped us set up a SNT to assist with my mother in the event that they would run out of money and she would be left with the house and no savings. Dad has since died and the trust is still in effect with me as the administrator. Is this considered part of her assets?
     
  2. vetadmin

    vetadmin Administrator Staff Member

    If the Trust is not a irrevocable Trust, and she has access to the funds, then she does have to declare that income.
     
  3. Jak

    Jak Newbie

    I should have said it a discretionary trust that is irrevocable. Sorry for the misinformation.
     
  4. vetadmin

    vetadmin Administrator Staff Member

    That's ok, but keep in mind that only an "irrevocable" trust would be excluded.
     

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