Many families have children or adults with special needs. This raises many unique and challenging issues. Who will care for the special needs person when you can’t? Will he/she be able to live independently? Can he/she receive an inheritance without jeopardizing eligibility for government benefit programs? A properly drafted special needs trust can answer many of these questions without affecting eligibility for most government benefit programs.
- You can name the people who will be in charge of the trust.
- You can direct that funds in the trust be used only to supplement benefits provided by government programs such as Medicaid or Supplemental Security Income (SSI).
- You can direct what happens to any money still in the trust after the beneficiary with special needs has died.
- You can create and fund the trust while you are alive to see how it works, or you can say that it comes into effect only after you have died.
We have experience preparing sensible and cost effective estate plans that include special needs trusts as part of the planning. We encourage you to call us to discuss this important and sensitive subject.