Do you have a loved one with special needs, and you’d like to enhance their life with a financial gift? Gifting money or assets to someone with special needs can be tricky. Many of these individuals rely on government programs for medical care, housing, and food assistance, so giving your loved one money or property outright may jeopardize their eligibility for financial needs-based assistance. There is a solution: A Special Needs Trust (SNT). Our Sammamish, WA special needs trust lawyer can help you create a trust to benefit your loved one and preserve their benefits eligibility. Call Eastside Estate Planning today for a consultation.
Special Needs Trust Lawyer Sammamish, WA
Many people with special needs or disabilities rely on government-sponsored programs, like Medicaid and Medicare, SNAP, and a housing stipend. These programs are needs-based, and recipients must maintain a monthly income and asset limit below a certain amount. These programs provide quite a lot for people with special needs, but they don’t cover everything. Certain medical and dental procedures, durable medical equipment, education and training, and other life-enhancing goods and services aren’t covered. You may wish to purchase certain items for your loved one or pay for in-home caregiving and personal care, but be cautious. Giving money to your loved one outright or giving them a monthly stipend could render them ineligible for a financial needs-based program.
Instead, consider a Special Needs Trust. This type of trust differs from other kinds of trusts in that the beneficiary has no control over the assets in the trust. So, legally, they don’t own any of the money or property in the trust. You (and anyone else who wishes) can contribute more to the trust, to benefit your loved one.
SNTs can be used to pay for things like modifications to your loved one’s home or vehicle to accommodate their disability, as well as other equipment and services that pick up where SNAP and Medicare leave off. Our Sammamish special needs trust lawyer sets up the trust to ensure that your loved one receives benefits and that they receive the items and care they need for a more fulfilling and independent life. And, as your loved one’s needs change, we can alter the trust if necessary, so they can continue to benefit from it.
Experience Matters When You Need An SNT
Creating a special needs trust is different from creating other types of trusts. For it to be effective, it must comply with state and federal guidelines for this type of estate planning document; otherwise, any distributions from the trust may affect the beneficiary’s governmental benefits. Our Sammamish special needs trust lawyer can create an effective SNT to meet your loved one’s needs.
- Five-star rating on AVVO, a perfect score, as rated by satisfied clients
- Over a decade of focused estate planning legal experience
- We’re local! Firm founder Robert Franco is a native of Bellevue’s East Side
- Member in good standing of the Washington Bar Association | Tax Section Member
Do you want to create a special needs trust to benefit a loved one with a disability? Call Eastside Estate Planning today for a consultation.