Law Office of Christy Lai

Special Needs Trusts: Protecting Your Loved Ones' Financial Future

Ensure your loved one with special needs is cared for while maintaining their eligibility for government benefits.

What is a Special Needs Trust?

A Special Needs Trust (SNT) is a legal tool designed to provide financial support to individuals with disabilities or special needs without jeopardizing their eligibility for important government benefits, such as Supplemental Security Income (SSI) or Medicaid. With a Special Needs Trust, you can ensure that your loved one is financially secure and cared for, while still preserving their access to essential public assistance.

At [Law Firm Name], we understand how important it is to protect your family member’s future. We offer personalized special needs trust services to help you plan with confidence.

Why Establish a Special Needs Trust?

Without a properly structured special needs trust, leaving assets directly to a loved one with a disability could cause them to lose their eligibility for government programs. A special needs trust ensures that they can benefit from the funds you provide while maintaining access to the care and support they need.

Here are the key reasons to create a Special Needs Trust:

  • Maintain Government Benefits: Ensure your loved one remains eligible for Medicaid, SSI, and other public benefits.
  • Supplemental Support: Provide funds for additional needs such as personal care, therapies, education, entertainment, and more.
  • Long-Term Care: Ensure your loved one is supported even after you’re no longer able to care for them.
  • Protection from Mismanagement: Appoint a trusted trustee to manage the trust funds, ensuring they are used appropriately.

Types of Special Needs Trusts

There are different types of special needs trusts to meet various circumstances. [Attorney’s Name] will help you determine which type of trust best suits your loved one’s situation.

Types of Special Needs Trusts We Offer:

First-Party Special Needs Trust (Self-Settled Trust)

This type of trust is funded with the beneficiary’s own assets, such as a personal injury settlement or inheritance. It allows the beneficiary to retain eligibility for government benefits.

Third-Party Special Needs Trust

Funded by someone other than the beneficiary (typically a parent, guardian, or family member), this trust provides additional support without affecting the recipient’s benefits.

Pooled Trust

A pooled trust combines the assets of many beneficiaries but is managed separately for each. It’s often a more affordable option and is managed by a nonprofit organization.

Our Special Needs Trust Services

At [Law Firm Name], we specialize in crafting special needs trusts that are tailored to the unique needs of your family. We will guide you through every step of the process, ensuring your trust is set up correctly and in compliance with state and federal laws.

Our Services Include:

  • Consultation and Legal Advice: We help you understand the options available for your loved one’s needs and explain the best approach for setting up a trust.
  • Drafting the Trust: We handle the complex legal documentation to create a valid and effective special needs trust.
  • Trustee Selection Guidance: We offer guidance on selecting a responsible and trustworthy individual or organization to manage the trust funds.
  • Ongoing Support: Life changes, and so do your loved one’s needs. We provide ongoing legal support to adjust the trust as needed.

Frequently Asked Questions

Who can benefit from a Special Needs Trust?

Any individual with a physical or mental disability who qualifies for government benefits, such as SSI or Medicaid, can benefit from a Special Needs Trust.

While the trust can provide for many supplemental needs like medical expenses, education, transportation, and personal care, it cannot cover basic necessities already provided by government benefits, such as food and shelter.

More Questions? Contact Us!