Yes.  A well-drafted will or trust will create a trust for a person who is a minor or who is incapacitated.  The trustee can be someone you trust to administer the property for the benefit of the minor or incapacitated person.  In most cases, the trustee is authorized to use the money to pay for the person's health, education, maintenance and support.  (Sometimes it is prudent to use a special needs trust to help assure the availability of Medicaid or other government benefits.)  When the minor reaches an appropriate age (most people pick an age beyond 18, since the child may not be ready to manage property as an 18-year-old), the trust can terminate and the property can be distributed to the child.

Last updated on January 6, 2011 by Glenn Karisch