ABOUT SPECIAL NEEDS TRUSTS ATTORNEYS IN BROOKLYN
A trust is a relationship where a property is managed by a person for another person’s benefits. The person who is managing the property is called the trustee whereas the person who receives the benefits is called the beneficiary.
There are different types of trusts. One type of trust is a special needs trust, which is a trust that is created to help people with chronic illness, physical, and/or mental disabilities. There are three types of special needs rusts. The first type of a special needs trust is a first-party trust, in which the trust contains funds that belong to the person with the special needs. The second type of special needs trust is the third-party trust, in which the trust contains funds that belong to different people other than the person with the special needs. Lastly, the third type of special needs trust is a pooled trust, in which the trust holds funds from different beneficiaries with special needs.
All YOU NEED TO KNOW ABOUT SPECIAL NEEDS TRUST ATTORNEYS IN BROOKLYN
Special needs trust attorneys in Brooklyn assist clients with matters that pertain to trusts, estates, and assets. A special needs trust attorney can help clients create a trust for an induvial with a physical and/or mental disability by writing a trust for the clients’ needs. If you live in NYC, Brooklyn or Long Island, it is fairly easy to access our services. If you would like to schedule a consultation with a special needs trust attorney in Brooklyn, now is the time to reach out to us. We are here to help you!
WHY SPECIAL NEEDS TRUST ATTORNEYS IN BROOKLYN ARE IMPORTANT
Special needs law is designed to help those who have physical or mental disabilities. There are several benefits to creating special needs trusts, both for the trustee and for the beneficiary. For example, special needs trusts ensure that beneficiaries can receive financial support while still being eligible to receive benefits from public assistance programs such as social security, supplemental security income, Medicare or Medicaid. Trustees benefit in that that they know that the funds they put into the trust will be used for their planned purpose.
WHY YOU NEED A SPECIAL NEEDS TRUST ATTORNEY AND HOW TO FIND ONE IN BROOKLYN
There are several benefits of consulting a special needs trust attorney. A special needs trust attorney will explain to you the intricacies of trusts, specifically, those of special needs trusts. A special needs trust attorney can help you draft a special needs trust for you and/or for the intended individual. Writing a special needs trust will help make sure that your loved ones with special needs (physical or mental) will not be disqualified from governmental benefits. In addition, it will also help make sure that the funds you put into the trust will be used for their intended purposes.
CALL OUR PROBATE ATTORNEY IN BROOKLYN TODAY
A special needs trust attorney will tell you that individuals with disabilities, whether mental or physical deserve the financial assistance they need. Thus, it is important to understand the complexities of special needs trusts, how to create them and how they can be beneficial. A special needs trust attorney can explain the different special needs trust issues and help guide you along the way of creating a special needs trust.