The special needs trust form includes names and addresses of the grantor and trustee, the trust property, and name of the beneficiary, states US Legal. The form also establishes the powers of the trustee.
The grantor places the trust property in the trust for the special needs beneficiary and appoints the trustee to administer the property for the beneficiary's care, explains US Legal. The trust form typically provides that the grantor or any other person may add property to the trust. It authorizes the trustee to apply the principal or income from the property for the benefit of the beneficiary. In the event of the beneficiary's death, the remaining assets are to be distributed among the grantor's surviving children. If there are no surviving children, the assets are to be distributed as if the grantor died intestate at the time of the beneficiary's death.
The trust form can empower the trustee to retain, invest and reinvest the trust assets in stocks of closely held corporations and of investment companies or in real property; to employ agents and accounting or legal professionals and compensate them; and to pay for the maintenance, education and welfare of the beneficiary. The trust property is described in the form, according to US Legal.