Setting up a trust

[HappyAndFree]

Friend of mine has a son who's developmentally disabled. He lives with a relative and collects social security for disability. He can't work. SS says he can't have more than $2000 in his checking account. The problem is his expenses are less than what he gets so his account builds up every month. SS recommended seeing someone about setting up a trust for him to move excess funds into it. I offered to help get info for my friend because she's beyond extremely busy and doesn't want to mess it up. Help!

 

[Tera]

I never been in this kind of situation to know how to help. Have you tried getting some free advice from someone who handles trust funds? I know there are different kinds of people online who give free advice without having to pay anything or make an appointment.

 

[Winster]

Trusts can be tricky since the laws and taxes can be different in different states. There are lawyers who specialize in Trusts because it can be complicated stuff depending on the situation. Most will consult with you for free to see if its a complex issue that needs them.

 

[Clever]

As mentioned above, seek out help for it. There are options for free legal and financial advice. Just be sure to stick to someone local so you avoid scam artists online.

 

[Poet]

I would like to find out more about this myself. I never understood how to go about setting one up.