Tidbit: You can ask your family members to contribute to a special needs trust. This way, you make it more robust. When we talk of a special needs trust, we are referring to nothing more than a traditional trust that instructs the trustee to get assets from the trust for the special needs of the…
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When you set up a special needs trust, you should be ready to come up with clauses that will determine how the trust is handled. The clauses are required to make the trust what it needs to be for it to be regarded as complete. You have the option to include the clauses in the…
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Medicaid is a program that gives health care access to those citizens that cannot pay for this type of care by themselves. This can be a health care facility, support group, or a physician. Given that the state and the federal government provide the care, many people have a minimal choice but to accept what…
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A supplemental needs trust is a legal tool that is used to help disabled people to retain more of their assets without giving up public benefits. These trusts were initially invented to enable the parents of kids with disabilities to provide for them without making them ineligible for public benefits. Typically, if you set up…
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Fact: Your trust will be more admissible if you work with a supplemental needs trust lawyer. A supplemental needs trust is an agreement that protects your special needs child from exploitation from other people, and also protects them from becoming ineligible for public benefits. The way you set up a trust will have lifelong implications…
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Stat: 11.4 percent of Americans are disabled. Life becomes more intricate for families that have a loved one with a disability. They have to go through many challenges to make sure the person is well taken care of, from getting the right school for the child to sourcing for the right medical care. It is…
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Fact: The US has over 2.7 million children living with a disability. Congratulations on accepting the appointment to act as a trustee for a supplemental needs trust. This tells you the trustor has a lot of belief in you and your capabilities, and this is why he has given you the ability to act as…
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If you have ever thought of coming up with a trust for your special needs child, then you need to start doing it now. You might be dragging your feet because you aren’t sure of what to do or where to start. Let us look at what to do to come up with one the…
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Scenario: I just inherited $200,000, and I am a beneficiary of the government disability programs – what do I do? We have been faced with such questions over our career in New York as supplemental needs trust lawyers. This case comes with several other scenarios that make it complicated. If the person that is receiving…
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Trusts are valuable planning tools for families that have children with special needs in their fold. Many people get distinctions when coming up with a trust, but the trustee ends up making costly blunders that make the whole process null and void. Let us look at these mistakes and what needs to be done to…
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