What Is A Special Needs Trust?
Trusts are useful estate planning tools that hold property and protect assets. There are many different types of trusts available to help individuals and families with all types of special circumstances. One such trust is a special needs trust, which is ideally suited for parents of a special needs child.
What Are the Benefits Of A Special Needs Trust?
A special needs trust is specifically created to meet the needs of individuals with mental and physical disabilities. One of the main benefits of a special needs trust is that it protects a disabled individual’s eligibility for government benefits, while still allowing him or her to keep the benefit from a large financial asset.
A parent, caregiver, guardian or other individual can set up a special needs trust. The money in this type of trust can be used to pay for medical bills, rehabilitation and personal care, as well as nonmedical expenses such as cars, vacations, education expenses and more.
We work with family members and other individuals who wish to establish a special needs trust. We can customize your trust to ensure that your assets are distributed to the beneficiary as you wish.
We can also help you establish other types of trusts, including revocable living trusts, irrevocable trusts, life insurance trusts and more.
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