Special Needs Trusts

Special Needs Trusts Attorney In Orlando, Florida

What Is A Special Needs Trust?

If you're caring for a loved one with special needs, the thought of what will happen to them when you're no longer around can be overwhelming. A special needs trust is a valuable tool that you can use to ensure their care and well-being continue uninterrupted. Whether dealing with dementia, lifelong disabilities, or another condition, it's essential to plan for the future. With a special needs trust, you can ensure your loved ones are taken care of even after your departure.

A special needs trust is a legal arrangement that allows you to set aside assets for the benefit of your loved one with special needs. The trust is managed by a trustee, who is responsible for disbursing funds according to your instructions and the beneficiary's needs. This can include medical expenses, housing costs, educational needs, and other necessary support.

One of the main advantages of a special needs trust is that it allows your loved ones to continue receiving government benefits such as Medicaid or Supplemental Security Income (SSI). These programs have strict income and asset limits, meaning that if your loved one were to receive an inheritance directly, they could potentially lose their eligibility for these crucial benefits. By placing assets in a special needs trust, you can ensure that your loved one will still have access to these benefits while also receiving additional support from the trust.

Another benefit of a special needs trust is that it provides protection for the beneficiary. By having a trustee manage the funds, you can prevent others from taking advantage of your loved one's vulnerability. This is especially important if your loved one has difficulty managing their own finances or making decisions about their care.

David Scott Glicken and Timothy Wilson, dedicated Estate Planning Law attorneys in Orlando, Florida, are here to guide you. By establishing a special needs trust, you can provide a safe and stable future for those you love. Schedule an appointment with Glicken and Wilson to discover how a special needs trust could benefit you and your family.

What Are the Benefits of a Special Needs Trust?

Why Do I Need an Estate Lawyer for a Special Needs Trust?

Establishing a special needs trust is a multifaceted undertaking. Every component must be in harmony with the present legislation regulating an individual's suitability for perks. David Scott Glicken and Timothy Wilson, renowned Estate Planning Law attorneys based in Orlando, Florida, have amassed an impressive track record in constructing trusts tailored to each family's distinctive requirements and conditions. Glicken and Wilson grasp all the intricacies that come with steering you through the journey of offering your loved ones the safeguard they are entitled to. With their extensive knowledge and experience, they will ensure that your special needs trust is structured in a way that provides maximum benefits and protection for your loved one.

When it comes to creating a special needs trust, there are several key considerations to keep in mind. First and foremost, the purpose of a special needs trust is to provide financial support for an individual with disabilities without jeopardizing their eligibility for government assistance programs such as Medicaid or Supplemental Security Income (SSI). This means that the trust must be carefully crafted to comply with federal and state regulations.

Begin the process of crafting your special needs trust. Connect with our empathetic legal team, Glicken and Wilson, right away.