Funeral Expenses. An executor does not necessarily take on financial responsibility for the decedentâs funeral arrangements. When he acts in his capacity as executor, he is making financial decisions for the decedentâs estate, and the decedentâs funeral arrangements become a debt of the estate.
By law, income to the trust funds must be invested, on a daily basis, in securities guaranteed as to both principal and interest by the Federal government. All securities held by the trust funds are special issues of the United States Treasury. Such securities are available only to the trust funds.
Therefore, the money in the trust fund can only benefit your child with special needs in the way you originally set up. However, this money is not taxed and not considered part of your estate if you were to die. It is essential to set up a trust fund for your child with special needs.etting Up a Trust Fund Now. You can set up and use a trust fund now, appointing yourself as the trustee (the administrator of the special needs trust fund). By setting up a trust now, you can save money for future needs or pay for current needs by setting up the trust fund as a checking account.