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If someone you love has a disability, you may worry about what will happen when you are no longer with them.
Special needs planning is for someone with a disability, be it physical, mental, emotional, or behavioral.
When someone with a disability receives SSI or medicare, there is a limit on their savings and income. If they get an inheritance or any large lump sum of money, this can put their benefits in jeopardy. Using a special needs trust as part of an overall estate plan ensures this does not happen.
A special needs trust is a particular type of trust that holds funds for the benefit of your loved one with a disability and manages the money on their behalf. Since they won’t have direct control over the funds, they remain eligible to receive medicare and SSI benefits.
The funds in a special needs trust are discretionary, and while the beneficiary does not have control over how they are used, the trustee can use the money for the beneficiaries benefit on a variety of expenses.
Common goods and services paid for by a special needs trust includes things like education and books, vacations or travel, clothing, household furnishings, and personal care items.
The trust can pay for all of these items and more, while still allowing the beneficiary to receive SSI and medicare to pay for medical care and housing.
We can help protect your loved one’s benefits by using legal tools such as:
Special needs trusts are sometimes called supplemental needs trusts because they are designed for disabled individuals to get supplemental funds while keeping benefits like SSI and medicaid.
These trusts can be customized to fit your loved one’s personal and specific needs and can pay for everything from education to service animals.
Special needs trusts are complex, and it is best to consult a legal expert to ensure the documents will work properly and meet the beneficiary’s needs.
Our legal team can meet with your family and craft a trust for your specific situation. Our focus and passion are ensuring you can provide the best care for your loved one for years to come.
Who will provide care to your loved one if something happens to you? A common and understandable fear for many caregivers is what will happen when they can no longer provide care.
A special needs attorney can bring peace of mind by creating a plan tailored to your family. Giving you the security and assurance that your loved one will be in capable hands and have funds available to meet their needs, whatever they may be.
Call us at (561) 955-8515 to schedule a free consultation.
Don’t jeopardize your loved one’s benefits. Call or chat with us today. The Siegel Law Group is dedicated to providing personalized and compassionate legal services.
Provide supplemental funds while receiving benefits like SSI and medicaid
A special needs trust creates a plan for what happens if a person with a disability inherits a lump sum or has disqualifying assets.
A third party special needs trust provides an opportunity family members and third parties to contribute to care without jeopardizing benefits
By managing funds in a trust, assets must be used specifically for the care of the disabled beneficiary and regularly accounted for. This helps protect against potential financial exploitation.
Put your mind and ease and call today for a free consultation. Let’s discuss what we can do for you and your family.
Contact us now at (561) 955-8515 or click here to get started.
At The Siegel Law Group, our mission is to be your law firm for life… and beyond.
We help with estate planning, elder law, and probate & trust administration.
Serving clients in Boca Raton, Deerfield Beach, West Palm Beach and throughout the Tri-County Area of Palm Beach County, Broward County, Miami-Dade County, and throughout South Florida.
Delray Beach, Florida, Jupiter, Palm Beach County, Palm Beach Gardens, Wellington.
We’d be honored to help you.
Disclaimer: The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation.
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