A Special Needs Trust Attorney Can Help Provide Security for Your Child
A special needs trust attorney at Deason Garner Law Firm in Yuma, AZ, can help you provide for the future needs of your disabled child through effective estate planning and creating a special needs trust (SNT). By creating an SNT, you help ensure that your child’s needs are provided for, while still allowing him or her to qualify for government benefits. There are advantages and disadvantages to SNTs, so we recommend speaking with one of our attorneys to determine if this type of trust is right for you.
What Is a Special Needs Trust?
An SNT provides for the living needs of a disabled or special needs child, while also ensuring he or she remains eligible for federal and state benefits. SNTs can provide the child with much-needed financial aid, both while the parents are living and after their deaths. Without an SNT, the burden of care for a special needs child may fall on siblings or other relatives after the parents’ deaths. A trust can provide the child with the financial means for the care he or she needs, without burdening other family members.
By creating an SNT, you help ensure that your child’s needs are provided for, while still allowing him or her to qualify for government benefits.
What Benefits Can It Provide?
The most common reason parents set up SNTs is to ensure their child is still eligible for government benefits such as Medicaid. Although this became less of a factor with the passage of the Affordable Care Act (ACA), our healthcare systems are facing a tumultuous time. An SNT can help ensure that a special needs child has access to proper healthcare no matter what.
Why You Should Work with a Special Needs Attorney to Set Up An SNT
To keep your child eligible for government benefits, there are many do’s and don’t’s you must follow. For instance, you cannot transfer your assets to your child directly, as this could disqualify him or her from Medicaid and other benefits. Instead, you must allocate these funds to a trust. A trustee can then disperse the funds according to your child's needs to pay for care beyond what his or her government benefits provide.
Our attorneys are experts in estate planning, the development of trusts, and trust administration, especially those for persons with special needs. We can help you create a trust that will ensure your child can live a comfortable life, even after you have passed on. Our attorneys can advise you on all the minute details needed to set up a trust, including:
- Start-up costs
- Management fees
- Selecting an appropriate trustee or co-trustees
- Defining the trustee’s duties and the relationship between co-trustees (if applicable)
- Auditing of the trustee
At Deason Garner Law Firm, our attorneys can help you determine whether an SNT is right for you and your child. We will walk you through the entire process to ensure all of your and your child’s needs are met.
Begin Planning for the Future Today
Our attorneys are ready to assist you with all your estate planning needs. Contact our law firm today to start planning for the future.
“After researching estate planning, my husband and I contacted Deason Garner Law Firm and were pleasantly surprised at the relative ease of setting up a Living Trust. All of the personnel we met at the firm, including but not limited to, Adam and Ashley, went above and beyond their assigned duties to make this happen for us. We feel confident in their expertise in this area and feel that we have made two new friends in Yuma! Thank you!” K. Knight