Special Needs Trust

If you want your child to inherit your assets when you die, but also want him to keep his government benefits, a special needs trust may be the way to go.

In a nutshell, a special needs trust supplements your child’s resources in a way that doesn’t interfere with government benefits. How does it work? A parent puts a certain amount of funds in a trust. A trustee then dispenses the funds as appropriate, on behalf of the child. Since the trust technically belongs to the trustee and not the child, families circumvent the law that states a person with a disability may not have a trust. A special needs trust is one way to ensure that a child receives the government benefits she needs, but also has enough money to take care of uncovered services, live above poverty level, and have the things that make her comfortable and happy.

The rules regarding special needs trusts are extremely complex and strict, and it’s important that anyone who wants to set up a special needs trust for their child contact an attorney with extensive experience and knowledge. If you are interested in exploring the benefits of a special needs trust, please contact us for more information.