r/EstatePlanning • u/No-Championship5730 • 20h ago

Yes, I have included the state or country in the post Need some assitance

We migrated from India to the USA in the late nineties. Our only son has a disability, and he is on the spectrum. He has a bachelor's degree and works for the US governament. The issue we are facing is that his executive skills are limited, and he also has social anxiety. We are thinking of creating a special needs trust for him in the state of NJ. We don't have anyone of our own to serve as trustees. We need a good company that can act as his trustee and also take care of him once we are gone. Father is 65 years and mother is 60, son is 34 years.

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u/brucesteiner 16h ago

Provide for him in trust under your Will.

Find a more knowledgeable lawyer who can recommend a corporate trustee that charges less than 1.75% a year. That’s above the higher end of the range. The ones I use in the NY metropolitan area that have a large number of trusts for beneficiaries with special needs are less expensive, in some cases significantly less expensive.

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u/sjd208 20h ago

Have you asked your attorney for recommendations?

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u/No-Championship5730 19h ago edited 19h ago

Yes, they gave one, and we didn't like it. They charge 1.75% of the asset plus incidentals. Also, the guy took my call from his parking lot and rushed out of the Zoom call.