Legal and Ethical Considerations
Expert-defined terms from the Professional Certificate in Special Needs Trusts course at London School of Business and Administration. Free to read, free to share, paired with a professional course.
Legal and Ethical Considerations Glossary #
Legal and Ethical Considerations Glossary
Advance Directive #
Advance Directive
A legal document that allows a person to specify the type of medical treatment t… #
This document may include instructions regarding life-sustaining treatments, organ donation, and palliative care.
Beneficiary #
Beneficiary
An individual who is entitled to receive benefits or assets from a trust, insura… #
In the context of special needs trusts, the beneficiary is typically a person with a disability who requires financial support.
Capacity #
Capacity
The legal ability of an individual to make decisions for themselves #
Capacity can be assessed in various areas such as financial, medical, and legal matters. It is important to determine if a person has the capacity to enter into a special needs trust.
Confidentiality #
Confidentiality
The legal and ethical duty to protect sensitive information about a client or be… #
Confidentiality is crucial in the field of special needs trusts to maintain trust and privacy for individuals with disabilities and their families.
Conservatorship #
Conservatorship
A legal arrangement where a court appoints a conservator to make financial and/o… #
In the context of special needs trusts, a conservatorship may be necessary for the beneficiary if they lack the capacity to handle their finances.
Guardianship #
Guardianship
A legal relationship where a court appoints a guardian to make decisions for a m… #
Guardianship may be required for individuals with disabilities who need assistance in managing their personal and financial affairs.
Incapacity #
Incapacity
The inability of an individual to make decisions for themselves due to physical… #
Incapacity may be temporary or permanent and can affect a person's ability to enter into legal agreements such as special needs trusts.
Informed Consent #
Informed Consent
The legal requirement for individuals to fully understand the risks, benefits, a… #
In the context of special needs trusts, informed consent is essential for all parties involved to ensure that they understand the implications of the trust.
Legal Guardian #
Legal Guardian
An individual who has been appointed by a court to make decisions for a minor ch… #
The legal guardian is responsible for the personal and financial well-being of the individual under their care.
Power of Attorney #
Power of Attorney
A legal document that grants an individual the authority to make decisions on be… #
Powers of attorney can be limited to specific tasks or broad in scope, depending on the preferences of the individual granting the power.
Representative Payee #
Representative Payee
A person or organization appointed by a government agency to receive and manage… #
Representative payees must use the benefits for the beneficiary's needs.
Special Needs Trust #
Special Needs Trust
A legal arrangement that allows individuals with disabilities to receive financi… #
Special needs trusts are established by a grantor for the benefit of a beneficiary with a disability.
Trustee #
Trustee
A person or entity appointed to manage a trust and oversee the distribution of a… #
Trustees have a fiduciary duty to act in the best interests of the beneficiaries and follow the instructions outlined in the trust.
Uniform Trust Code (UTC) #
Uniform Trust Code (UTC)
A set of laws that govern the creation, administration, and termination of trust… #
The UTC aims to provide a consistent framework for trust law across different states and ensure that trusts are managed in a fair and transparent manner.
Vulnerable Adult #
Vulnerable Adult
An individual who is at risk of harm or exploitation due to physical, mental, or… #
Vulnerable adults may require protection and support to ensure their well-being and prevent abuse or neglect.
Waiver #
Waiver
A legal document that relinquishes a right or releases a party from liability #
In the context of special needs trusts, waivers may be used to waive certain legal requirements or restrictions to facilitate the establishment and administration of the trust.
Withholding Treatment #
Withholding Treatment
The decision not to provide medical intervention or life #
sustaining treatment to a patient based on their wishes or the recommendations of healthcare providers. Withholding treatment may be a contentious issue in special needs trusts if the beneficiary's medical needs are in question.
Xenophobia #
Xenophobia
Prejudice or discrimination against individuals from other countries or cultures #
Xenophobia may manifest in the form of bias or stereotypes towards people with disabilities who are perceived as different or unfamiliar.
Yield Curve #
Yield Curve
A graphical representation of the relationship between the interest rates and th… #
The yield curve is used by investors to assess the risk and return of different investments based on the prevailing market conditions.
Zoning Laws #
Zoning Laws
Regulations that govern the use of land and buildings in specific areas #
Zoning laws may restrict the types of activities or developments allowed in a particular zone, which can impact the location and accessibility of services for individuals with disabilities.
This glossary provides a comprehensive overview of the legal and ethical conside… #
By understanding the key terms and concepts outlined in this glossary, students will be better equipped to navigate the complex legal and ethical landscape of special needs trusts and effectively advocate for individuals with disabilities.