Do you have a loved one with special needs, regardless of his or her age? Do you have a plan in place to ensure that your loved one will be taken care if you’re not there? We will help you establish a plan for your special needs family member.
Special Needs Trusts allow a disabled person who is currently receiving or anticipates receiving government benefits through SSI or Medicaid to preserve those benefits yet allow for additional funds to be set aside in a trust for the benefit of the special needs persons.
Special Needs Trusts may be set up as an “intervivos” or Living Trust, or as a Testamentary Trust, through one’s Will. Which method of establishing a Special Needs Trust would be best depends on the type of Special Needs Trust that would be appropriate for the person receiving the government benefits.
Parents of a disabled child or other family members with disabled loved ones who wish to provide additional funds to supplement government benefits may be able to do so through establishment of a Special Needs Trust as part of their estate plan.
Persons who have been severely injured and receive a personal injury settlement or award must establish a Special Needs Trust to preserve those funds and remain eligible for government benefits.
For individuals facing Long-Term Care needs, a Testamentary Special Needs Trust will allow the surviving spouse to benefit from the deceased spouse’s assets, yet not interfere with Medicaid Long-Term Care eligibility requirements.
If you would like to discuss questions about Special Needs Trust, please contact us at info@spokaneelderlaw.com or 509.468.0551.
