You can set up a special needs trust without a disability issue, but it’s not clear why you would specifically want one. There are many kinds of trusts, and another type might suit you better.
Reasons for Creating a Trust
Trusts are legal arrangements used in estate planning alongside wills and advance directives. They allow a person you assign as trustee to manage funds and property for the trust’s beneficiaries. Depending on your need for the trust, it can be a simple or complex process to set one up and fund it properly. Trusts are used for many reasons, including:
Minimizing tax consequences
Controlling the distribution of assets to children and adults who need guidance when inheriting large sums of money
Preserving significant money or property from Medicaid estate recovery
Protecting government benefits for people with special needs or disabilities
Harry S. Margolis practices elder law, estate, and special needs planning in Boston and Wellesley, Massachusetts. He is the founder of ElderLawAnswers.com and answers consumer questions about estate planning issues here and at AskHarry.info.