Supplemental needs trusts are effective, caring options when you wish to provide for someone with special needs

If you have a disabled loved one who relies on Medicaid and Supplemental Security Income (SSI) programs to receive essential services, establishment of a special needs trust is a smart and proactive decision. It allows your family member to continue receiving basic and essential government-funded services, while ensuring the availability of additional resources to enrich their quality of life. The Fort Lauderdale trust attorney at The Law Offices of Gregory W. Kabel, P.A is well-informed and highly qualified to establish a special needs trust, also known as a supplemental needs trust, which offers all the legal protections available.

What are supplemental needs / special needs trusts?

If you pass away and leave your disabled child or spouse your estate through a will, the funds would transfer directly to the beneficiary and be viewed as countable assets. This would render them ineligible for vital government benefits until they have run through all of the assets. Leaving them at that point to rely solely on government assistance, which only covers the bare necessities and often falls short of even basic needs. Supplemental needs trusts are designed to benefit disabled persons, or those with special needs, by setting aside specific income and assets for the beneficiaries without impacting their eligibility for government needs-based programs, such as Medicaid, SSI, subsidized housing and vocational rehabilitation. Additionally, the assets in the trust are protected from creditors.

Who can benefit from special needs planning?

A supplemental needs trust legally shields income and assets important for the future care of a child or adult who cannot care for themselves. The following individuals are the ideal beneficiaries of a special needs trust:

• Disabled child
• Individual in a nursing home
•  Adult with special needs

These trusts can be set up to benefit the individual while you are still alive as well. By establishing a trust now, if your loved one receives a lawsuit settlement, gift or an inheritance from another party, these assets can be transferred immediately into the trust, shielding them from creditors and allowing your disabled family member to maintain government program eligibility. They continue to have access to those resources via the trust. Those valuable assets can help cover expenses and services they would otherwise be unable to enjoy, such as alternative treatments and therapies, special equipment, travel costs and other life-enhancing benefits.

Call an experienced Fort Lauderdale trust attorney who understands the complex laws governing these special needs trusts

At The Law Offices of Gregory W. Kabel, P.A., we concentrate exclusively on probate and estate planning. You can be confident that our firm attorney, Greg Kabel, will develop a personalized supplemental needs trust that both fully conforms to the law and provides comprehensive protection for your loved one. Call 954-761-7770 or contact us online for your all your estate planning needs.