CSS Profile and special needs trusts

BelknapPoint
Tue, 06 Dec 2016 16:57:39 +0000

It just takes time for the trust to become legal and it is not possible to transfer money until it is.

Not unless there is some kind of special circumstance. You said that “the trust is already drafted and signed,” which should mean that the Trust now exists as a legal entity. You can get a tax ID number for the Trust online in 10 minutes using the IRS website, and with that a bank account can be opened in the name of the Trust. That’s all you need to fund the Trust by transferring money out of any account that needs to be reported for financial aid purposes. It really is that simple.