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The aim of the law is to ensure that the intention of the trust creator or decedent is carried out, and to govern the proper distribution of assets to trust beneficiaries, heirs and devisees. [1] To be enacted into law, the Act must be adopted by the state legislature. To date, most states have adopted the Act (sometimes with modifications). [2]
The Virginia Department for Aging and Rehabilitative Services is the executive branch agency of the state government responsible for vocational rehabilitation, supportive services, and aging/disability services in the state of Virginia in the United States.
The increased use of trusts in estate planning during the latter half of the 20th century highlighted inconsistencies in how trust law was governed across the United States. In 1993, recognizing the need for a more uniform approach, the Uniform Law Commission (ULC) appointed a study committee chaired by Justice Maurice Hartnett of the Delaware ...
Supplemental needs trust is a US-specific term for a type of special needs trust (an internationally recognized term). [1] Supplemental needs trusts are compliant with provisions of US state and federal law and are designed to provide benefits to, and protect the assets of, individuals with physical, psychiatric, or intellectual disabilities, and still allow such persons to be qualified for ...
[1] [2] A Special Needs Trust is a specific type of irrevocable trust that exists under Common Law. Several Common Law nations have established specific statutes relative to the creation and use of Special Needs Trusts, and where they exist a Special Needs Trust will not be valid unless it comports with the requirements listed in the statute.
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
The Virginia Code Commission undertook the recodification of Title 63.1 in 2000 noting that such title had last been recodified in 1968 and during the intervening 34 years, "much has happened to affect laws governing social services programs and the two disability programs".
1963 – Public Law 88-164, also called the Community Mental Health Act, became law in the U.S., and it authorized funding for developmental research centers in university affiliated facilities and community facilities for people with intellectual disability; it was the first federal law directed to help people with developmental disabilities.