Types of Trusts

Is a Special Needs Trust right for me?

Schedule an appointment with The Taormina Firm to learn more about how a Special Needs Trust could help protect your loved ones with disabilities.

Introduction

Special Needs Trusts, sometimes referred to as Supplemental Needs Trusts, help ensure that any loved one with disabilities receiving government benefits will continue to receive those benefits after you are gone.

Description

If you have a loved one with special needs, and wish to send give them an inheritance, it may be more complicated than simply giving them a percentage of your Estate, especially if that loved one is receiving governmental assistance for their disability.

An outright inheritance to a person receiving governmental assistance constitutes a "resource" that will likely disqualify that person from further public assistance or reduce their benefits. Even a separate trust provision that requires regular income payments to that loved one could disqualify them from the benefits they receive.

Families with loved ones receiving government benefits should absolutely consider a Special Needs Trust. The Special Needs Trust supplements governmental assistance rather than replace it. This Special Needs Trust allows your loved one to inherit some money from you to enhance their quality of life, but not jeopardize their existing benefits.

The Taormina Firm will work with you to create a Special Needs Trust that does not disqualify your loved one from receiving governmental assistance. This Trust may be included in your Revocable Living Trust or other estate planning arrangement, and will prevent the inheritance from going toward any food, shelter, or healthcare provided by the government to your loved one. Instead, your special needs beneficiary will receive an inheritance, held in trust by a Trustee, that can be used for their recreation, travel expenses, medical care not covered by the government, and any other spending money not otherwise granted them by the government.

If you have a loved one with special needs receiving governmental assistance, please contact Vince Taormina, a special needs trust attorney with The Taormina Firm, to discuss how best to prevent your loved one from losing those benefits after your death.