Special Needs Trusts

Are you or a family member receiving governmental benefits that would be in danger of being taken away if you inherit money? If the answer is yes, contact us to see if you qualify for a Special Needs Trust to hold the assets so they aren’t counted against you. We charge fixed fees for all Special Needs Trusts. You will know from our first meeting the total cost.

first-party SPECIAL NEEDS trust

If you are currently receiving Supplemental Security Income and/or Medicaid due to a special need and are about to receive money from an inheritance or settlement that will disqualify you for benefits, then consider establishing a First-Party Special Needs Trust. This Trust will be managed by a Trustee of your choice, who is knowledgable in administering Special Needs Trusts. Your Trustee can use money in this Trust to pay for your Supplemental Needs. Upon your death, there is a pay-back provision to Medicaid. If there is money remaining after the pay-back, then you list the beneficiary who should receive it.

third-party SPECIAL NEEDS trust

If you have a loved one who is currently receiving SSI and/or Medicaid due to a special need, you may want to consider establishing a Third-Party Special Needs Trust, also referred to as a Supplemental Needs Trust. This Trust can be created now or established at the time of your death. A properly set up Trust, ensures the inherited assets will not disqualify your loved one from SSI and/or Medicaid. Additionally, there is no pay-back provision, so you can designate who the beneficiary will be after your loved one passes.