Special needs trusts are developed for the benefit of someone requiring government need based assistance such as Supplemental Security Income (SSI) or Medicaid. The trust allows the beneficiary to receive assistance from the trust without losing government benefits. Special needs trusts are commonly used to pay for the things that government programs don't over, such as vacations, furniture, other household items, education, vehicles, and out-of-pocket medical expenses.
A special needs trust must comply with very specific criteria in order to be valid. For example, the trustee must have total control over the trust assets; the trust can only be used to pay for good and services not covered by the government programs; the trustee cannot distribute any of the trust income or assets directly to the beneficiary; and the trust agreement must include very specific language. Our estate planning attorneys can draw up your special needs trust to ensure your beneficiaries will be provided for without losing their government benefits. |
