INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-An appropriate trust to set up with a disabled child being the beneficiary would be the [Special Needs | Minor's Section 2503(c)] trust.

Question

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-An appropriate trust to set up with a disabled child being the beneficiary would be the [Special Needs | Minor's Section 2503(c)] trust.

Quizplus · Accepted Answer

The Special Needs trust is designed to provide for the supplemental needs of a disabled person without disqualifying them from government benefits. A Minor's Section 2503(c) trust is designed to allow a minor to receive gifts or transfers of money without paying gift tax, but it does not provide the same protections and benefits as a Special Needs trust for a disabled beneficiary.

INSTRUCTIONS: Choose the Word or Phrase in [ ] Which