Are you worried about your loved one with a disability? Do you want to ensure that they are taken care of and not lose any of their current benefits? A special needs trust may be the answer for you. A special needs trust is set up for a person with physical and/or mental disabilities who are not capable of managing their finances. The beneficiary’s specific needs, lifestyle, and future are kept in mind when creating their special needs trust. The special needs trust is used to make sure that the beneficiary of the trust does not lose the government benefits they are receiving. Turner Law located in Decatur, GA specializes in special needs planning for both children and adults.
The benefits of a special needs trust are:
- Setting up a special needs trust will prevent the government from gaining control over or avoid losing eligibility for Supplemental Security Income (SSI) or Medicaid benefits. SSI and Medicaid will not look at any property in the special needs trust when considering program eligibility.
- The special needs trust can be used to buy food, clothing, medical expenses, and any supplemental needs for the beneficiary.
- The funds used to establish a special needs trust are tax-deductible.
- Creditors will not be allowed to file a lawsuit against a special needs trust for any monies that are owed.
Special Needs Trust Planning Expert in Atlanta
Creating a special needs trust could be challenging if not handled by an experienced lawyer like Robert Turner. The rules around a special needs trust are complex. Attorney Robert Turner pays close attention to the details and will go over any questions you may have about the trust. If you are in Atlanta or surrounding areas, call Turner Law today to schedule your consultation and make sure your loved one is properly looked after.
Posted on behalf of Turner Law, LLC