Elder Law, Disability Law, Social Security, Estates
Special Needs Trusts
Special Needs / Supplemental Trusts
In order to qualify for needs tested benefits such as Medical Assistance and SSI, an individual's assets must not exceed defined limits. Yet the means tested benefits are often not sufficient to meet the individuals needs. Special Needs Trusts (also called Supplemental Needs Trusts) provide a way to shelter assets so that they can be available for the benefit of an individual with a disability, without making the individual ineligible for means tested benefits.
Third Party Special Needs Trusts allow family members and friends to set aside assets for the benefit of a loved one who has a disability. The trust can be drafted so that funds are available for the benefit of the individual with a disability during that individual's lifetime without disqualifying that individual from being eligible for means tested benefits. At the death of the individual with the disability any assets remaining in the trust can pass on to other beneficiaries.
(d)(4)(A) Trusts provide an individual with a disability who has assets (e.g. from inheritance or from the award of damages from a legal action) to shelter those assets so that they are available to the individual during their lifetime yet do not make the individual ineligible for means tested benefits.
I can help you to determine whether a special needs trust would be helpful for you, and can draft a trust to meet your needs.
Contact us about your special needs trust by calling us at 301-570-605, or by e-mailing us at br@raiche-law.com.
The information on this website is not, and is not intended to be, legal advice. The law is generally fact specific, and you should contact an attorney to discuss your individual situation. I would be pleased to meet with you to discuss your legal needs. Please feel welcome to contact me by either completing the form in the contact section of this website, or calling me at 301-570-6057. Contacting me does not create an attorney-client relationship. Please do not send me any confidential documents until an attorney-client relationship has been established.