Using a Special Needs Trust in the Settlement of a Product Liability Lawsuit, by Thomas M. DeMicco (NY Metro) and Phil Quaranta (NY Metro), Product Liability Advocate Blog
Product liability cases frequently involve severe and even catastrophic injuries. As a result, product liability defense counsel and insurance adjusters must be familiar with the prospects for use of a special needs trust as a potential tool in the settlement of severe injury cases. Special needs trusts are frequently proposed as a component of the settlement of severe injury cases.
The purposes of the special needs trust are to allow a severely injured plaintiff to continue to receive social security benefits and to be protected from lien holders.