If you have a loved one with a disability, a special needs planning attorney can help you plan for their future with a special needs trust.
Special needs planning becomes necessary if your loved one receives government benefits such as Supplemental Security Income, Social Security, or Medicaid. Receiving an inheritance can cause those benefits to be reduced or eliminated. A third-party special needs trust can be funded with an inheritance or other resources from someone who is not the person with the disability.
Once a special needs trust attorney creates the trust, those resources can then be used to supplement the needs of the disabled person while allowing them to maintain their government benefits. The trust lets the trustee legally make the maximum distributions possible to the beneficiary without reducing benefits. The trust assets also become available if the beneficiary no longer qualifies for government assistance or benefits are no longer available.
Developing a third-party special needs trust is just one example of the planning that can be done to assist someone with a disability. Our St. Louis special needs attorney will work with you and your family to determine the best strategy to help care for your loved one.
Special needs planning in Missouri is a unique part of the estate planning process and is included in the broader scope of our elder law services. Contact us with questions! Planning for peace of mind – that’s what we do.