Special Needs Trusts
A Special Needs Trust, if correctly worded, allows elders facing long-term care and disabled individuals to enhance their quality of life through trust assets while retaining government benefits. There are several different Special Needs Trusts which can be created depending on the origin of the assets that may be used to fund the trust. These trusts are appropriate in situations such as: parents wishing to leave assets to their disabled children while the parents are alive or through their estates on their death; when disabled individuals directly receive monetary gifts through an inheritance or as the result of a settlement in a personal injury case; or, when an elder is disabled and receiving long–term care assistance from the government and a spouse or other family member wishes to provide funds to enhance the elder’s quality of life. We assist clients in all aspects of creating and administering Special Needs Trusts.