Caring for an individual with special needs is one of the most challenging and rewarding experiences for any family. But are you prepared if something happens to you? It’s imperative to have a plan in place, like a special needs trust, to ensure that your loved one will have care and support throughout their lifetime.
Special needs planning with a special needs trust lawyer 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. It’s just one example of the planning that can be done to assist someone with a disability.
If you have a loved one with a disability, our special needs trust attorney uses legal strategies to help you plan for their future by establishing a Missouri special needs trust.
Once a special needs trust attorney creates your trust, resources can then be used to supplement the needs of the disabled person while allowing them to maintain their government benefits. A Missouri special needs 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.
Our St. Louis, MO, special needs trust 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.