Excerpt from Lake County News: (click for entire article)
Most people who have heard about special needs trusts are familiar only about the Testamentary Special Needs Trust.
Testamentary trusts are established at the death of the person establishing the trust pursuant to his trust or will.
Stand-alone Special Needs Trusts, however, are established while the benefactor is alive. Let us compare these two trusts.
First, the Stand-alone SNT can receive assets from multiple persons wishing to provide for the well-being of the person with special needs.
This can be a real cost saving to the family and encourage giving by persons who might otherwise be discouraged by the cost of establishing a special needs trust. That is, only one special needs trust would be established to allow multiple benefactors to make bequests into the same special needs trust.