Special Needs Legal Planning

A special needs trust (SNT) is a legal tool designed to help individuals with disabilities or special needs manage their finances while still being eligible for government benefits. Here are some of the benefits of creating a special needs trust:

1. Protects government benefits: An SNT can help ensure that individuals with disabilities maintain their eligibility for government benefits such as Medicaid, Social Security Income (SSI), and other means-tested programs.
2. Provides for long-term financial security: An SNT can provide for the long-term financial security of a person with special needs by ensuring that their assets are managed by a trusted person or entity.
3. Allows for flexible spending: The trust can be structured to allow the trustee to use the funds for a wide range of needs that are not covered by government benefits, such as education, travel, and entertainment.
4. Preserves eligibility for inheritance: If a person with special needs inherits assets directly, they may lose eligibility for government benefits. An SNT can preserve their eligibility while still allowing them to benefit from the inheritance.
5. Reduces family stress: An SNT can help reduce family stress by providing a clear plan for managing the finances of a person with special needs and ensuring that their needs are met in the long-term.
6. Protects against exploitation: An SNT can help protect a person with special needs from financial exploitation or mismanagement by providing oversight and management of their assets.

Overall, a special needs trust can provide peace of mind and financial security for individuals with disabilities and their families.