It was announced on 14 June 2013 that Ministry of Social and Family Development have begun subsidizing the cost of setting up a trust with Special Needs Trust Company (SNTC). This is very good news especially for caregivers who cannot afford setting up trust with private trust companies. The following is a summary of the subsidy:

SNTC Fees

Amount S$

Subsidy by MSF

Amount Payable After Subsidy S$

One-time setup fees

1500

90%

150

Annual Pre-Activation Fees

250

100%

0

One-time Activation Fees

400

90%

40

Annual Post-Activation Fees

400

90%

40

The following are some tips to parents who have children with special needs:

First, is it really necessary to have a trust setup for their special kids?  There are kids who are of very high function and they may be able to take care of themselves. But there are also many who are unable to take care of …