Special Needs Trust Creation Service

If you have a child with special needs, ensuring their financial security without jeopardizing their eligibility for government benefits is a top priority. A Special Needs Trust (SNT) is a powerful estate planning tool designed to safeguard your child's future while maintaining access to essential benefits like Medicaid and Supplemental Security Income (SSI).

What is a Special Needs Trust?

A Special Needs Trust is a legal arrangement that holds and manages assets for the benefit of your child. Unlike direct gifts or inheritances, assets in an SNT do not count toward the income or resource limits that determine eligibility for government assistance programs.

This trust ensures that your child can receive supplemental financial support for quality-of-life expenses—such as education, therapy, and recreation—without risking access to vital benefits.

Why This is a Good Idea

• Benefit Preservation: The trust protects your child's eligibility for Medicaid, SSI, and other means-tested benefits by ensuring assets are not directly in their name.

• Financial Security: Funds in the trust can provide for expenses that government benefits do not cover, enhancing your child’s quality of life.

• Management and Oversight: The trust names a trustee (an individual or institution) to oversee funds, ensuring they are used appropriately and according to your wishes.

• Peace of Mind: You can rest assured that your child will have a financial safety net, even after you are no longer able to provide for them directly.

How It’s Set Up

1. Drafting the Trust:

   • An attorney designs a customized Special Needs Trust tailored to your child’s unique circumstances and needs.

   • The trust can be funded now (with assets like savings or property) or at a later date (such as through a life insurance policy or inheritance).

2. Appointing a Trustee:

   • You appoint a trusted individual or professional trustee to manage the trust, ensuring they understand how to follow government regulations and your intentions.

3. Funding the Trust:

   • The trust can be funded with a variety of resources, including gifts, settlements, or proceeds from life insurance policies.

4. Coordination with Estate Plan:

   • We integrate the SNT with your overall estate plan, updating your will and other documents to ensure seamless distribution of assets and proper funding of the trust.

Types of Special Needs Trusts We Create

• Third-Party Special Needs Trust: Funded by parents or other family members to provide for the child’s needs without affecting benefits. **Included.

• First-Party Special Needs Trust: Created with the individual’s own funds, often from an inheritance or settlement, ensuring compliance with Medicaid rules. **Not included.

• Pooled Special Needs Trust: Combines assets from multiple beneficiaries into a professionally managed trust while maintaining individual accounts. **Not included.

This service empowers you to create a solid financial foundation for your child’s future, ensuring their needs are met while preserving their eligibility for essential programs. Let us help you plan with compassion, care, and precision.