Special Needs Trusts & Disability Planning

Special Needs Trusts & Disability Planning

We can inform you of your estate planning options, including which special needs trust (also known as supplemental needs trust) is best suited for your family. The goal is to assure that your disabled family member  retains or can become eligible for public benefits, such as Supplemental Security Income (SSI) and Medical Assistance (Medicaid).  As part of any plan, we can determine whether a payback provision is necessary, advise you in selecting a Trustee, and counsel you about what the trust funds be used for. We can draft the trust and instruct you on how to transfer funds into the trust.  We obtain any required approvals of the trust by Medicaid and/or SSI.

Ron Landsman has written a chapter on special needs trusts published by the American Bar Association. It provides a useful overview of special needs trusts, why they are needed, their requirements, how they are taxed, and how they are used. Click this link to read it.