Special Needs Trust

Special Needs Trusts

What Are Special Needs Trusts?

A special needs trust is specifically created for people with disabilities or mental illnesses. Like any other trust, it may hold money, property, or other assets that are intended to be passed down to a beneficiary. It may also hold proceeds or rewards from a life insurance policy, lawsuit or will. A special needs trust can provide the care needed for a beneficiary that has a disability in addition to any benefits they receive from government assistance.

Parents or family members with a disabled child should consider setting up a special needs trust to provide him or her with long term care and financial security. Without a special needs trust, any money or assets passed down to the beneficiary through a will or other means may be used to calculate their income when applying for public benefits. This may place them over the income eligibility requirements and they may lose their benefits. A special needs trust can prevent this from happening and it will ensure your disabled family member remains financially secure.

Special Needs Trust Lawyers

If you have a child or family member with a severe disability or mental illness, a wills and estate planning lawyer can discuss the option of a special needs trust with you. An experienced estate lawyer will answer any questions you may have and will provide you with all information regarding these specialized trusts. Should you decide to create a special needs trust, an attorney can help you prepare it correctly and will then ensure that it is executed according to your wishes.

Lawyer Referral Service

Attorney Search Network can connect you with a Wills and Estate Planning lawyer if you or a loved one needs a Special Needs Trust. Contact us today for a lawyer referral in your area.

If you have any questions about the information provided above, please contact us. Call Attorney Search Network toll free at (800) 215-1190 or fill out out online form for your Special Needs Trust lawyer referral.