Massachusetts S756 preserves special needs trusts for disabled seniors by treating certain transfers as disposals of resources at fair market value.

Massachusetts S756 amends the state's General Laws to ensure that transfers of assets into special needs trusts for individuals aged 65 or older are considered disposals of resources at fair market value. This change aims to protect these trusts, which are established for the sole benefit of disabled seniors, ensuring the resources remain available for their care. The bill specifies that these transfers should be treated as disposals under any circumstances where the resources could be used by the trustee to provide goods and services to the individual.

Massachusetts S756 preserves special needs trusts for disabled seniors by treating certain transfers as disposals of resources at fair market value.

Massachusetts S756 amends the state's General Laws to ensure that transfers of assets into special needs trusts for individuals aged 65 or older are considered disposals of resources at fair market value. This change aims to protect these trusts, which are established for the sole benefit of disabled seniors, ensuring the resources remain available for their care. The bill specifies that these transfers should be treated as disposals under any circumstances where the resources could be used by the trustee to provide goods and services to the individual.