Special Needs Trusts
A special needs trust can be an important component of any estate plan to protect government benefits for an elderly or disabled loved one. One of the biggest concerns for parents of a special needs child is how to provide for their child after both parents have died. Individuals with a disabled parent, sibling or loved one may also want to provide a bequest in their estate plan for the person with disabilities. Government benefits such as SSI and Medicaid are often not adequate to meet all of the needs of the individual with disabilities, especially when the parents or caregiver are no longer able to provide the primary care giving.
In this area of practice our firm can:
- Draft a special needs trust as part of the estate plan for parents or others who have a loved one with disabilities
- Draft a special needs trust when a person with disabilities is about to receive a lawsuit settlement or an inheritance that will cause the individual to otherwise lose important government benefits
- Advise individuals with disabilities, their family members, or advocates on government benefits that may be available and how a special needs trust can help ensure eligibility for those benefits
- Advise trustees, both professional and family member trustees, on how to administer a special needs trust to ensure that important benefits are preserved
- Advise personal injury attorneys as to whether a special needs trust will be needed when a person with disabilities is going to receiving a lawsuit settlement in order to preserve important government benefits
Our firm will work with you to develop a special needs trust that is customized to meet the needs of the beneficiary and to enhance financial security through a combination of government benefits and the assets that will be funding the special needs trust.