Florida Special Needs Trust Attorneys

Are you a parent of a special needs child? Is your spouse disabled?

Then you face a particular challenge: How do you make sure they’re cared for after you are gone?

We can help you construct a plan to protect your disabled loved one’s eligibility for government benefits programs.

What does a Special Needs Trust do?

A Special Needs Trust allows you to provide funding for what your loved one needs while still allowing them to remain eligible for government benefit programs such as Medicaid or SSI.

Many of these programs have fairly low asset and income thresholds.

Receiving an inheritance, lawsuit settlement, or other monies may disqualify a special needs person from their government benefits.

A Special Needs Trust helps to transfer assets so that these aren’t counted against a person’s asset limit. It allows for assets and income to be distributed in a manner that doesn’t risk the beneficiary losing their benefits.

Our experienced Special Needs Planning attorneys can help you decide if, and which type, of Special Needs Trust may work for your disabled loved one.

A closer look at Special Needs Trusts in Florida

There are two main types of Special Needs Trusts:

First Party Trust: This is funded with the disabled person’s own assets.

While the special needs individual is alive, the trust funds are used to enhance his quality of life. When that person dies, assets remaining in the trust are used to reimburse (payback) the government for the cost of received medical care.

A first party trust is for individuals receiving SSI or Veteran’s Benefits that come into large amounts of money. The trust allows the special needs person to retain benefits while still being able to use his own funds when necessary.
Third Party Trust: Funded with assets from someone other than the disabled person, such as a parent or other family member.

Assets held in the third party trust do not affect the special needs person’s eligibility for SSI or other government benefits.

A third party trust can pay for the beneficiary's supplemental needs beyond those covered by their benefits. A third party trust is not required to be “paid back” when the special needs individual dies. Any funds remaining in the trust can pass to other family members, or to charity, without having to reimburse the government.

A few of the many benefits that a Special Needs Trust provides include:

Flexibility in how they are funded. Special needs trusts offer flexibility with how they are funded with cash, securities, and other alternative asset classes.
Efficient utilization of assets. The special needs trust allows for exact timing of where and how assets are distributed per Social Security Administration and Internal Revenue Service regulations.
Ability to make additional future contributions. With a SNT created for a child, parents, grandparents, and other family have an extended period to contribute to the trust without incurring a gift tax.
Better quality of life for beneficiaries. Those with special needs gain access to aid through programs like Medicaid and SSI. The special needs trust helps supplement their needs for a better quality of life without losing eligibility in those programs.

Even if a trust is properly established and funded, the special needs individual’s public benefits could be reduced or eliminated if the trust funds are used improperly.

Given the complexity of this field, you should always consult with an experienced Special Needs Trusts attorney. Call us at (772) 828-2588 or click here to learn how we can help.

Special Needs Planning is complex.

We can help.

Special Needs Trusts offer many benefits to families looking at a long-term picture.

With a plan in place, you can ensure your disabled loved one is cared for, protected, and looked after no matter what.

Our experienced Special Needs Planning attorney team takes the time to understand your present situation, your vision for tomorrow, and help you create a peace-of-mind solution that delivers for the long haul.

Florida’s premier law firm for Special Needs Trust planning.

Get in the driver’s seat to take control of your loved one’s tomorrow.

Talking about your special needs loved one’s future is not an easy conversation.

Our compassionate Special Needs Planning attorneys will walk alongside you to decide if your loved one would benefit from a Special Needs Trust.

Contact us at (772) 828-2588 or click here to get started today.

Get ready for tomorrow by starting today.

Our team has experience, knowledge, and insight to guide our Treasure Coast clients through the complex web rules that govern Special Needs Trusts.

That’s why our first conversation with new clients is a discussion to see where we can provide the most benefit. It helps us nail down what’s important to you and your family going forward. With that in mind, we can start to shape the legal framework that protects your vision.