Providing Financial Security With A Special Needs Trust

Caring for children is a major investment. All of us expect to financially support our kids until they reach adulthood or graduate from college. But if you have a son or daughter (or another loved one) with special needs, you understand that the financial picture is different. Financial support may be a lifetime commitment.

Special needs trusts are an important instrument for ensuring that your loved one is financially secure and has the resources he or she needs to live as independently as possible. At Weber Elder Law Offices, we can help you create a special needs trust to meet the unique circumstances your loved one will face while maintaining eligibility for government benefits and assistance.

Financial Support Without Compromising Outside Help

There are two forms of government assistance that are often critical to individuals with specials needs: Medicaid and Supplemental Security Income (SSI). But in order to be eligible, beneficiaries must have almost no assets of their own. Even a modest inheritance or help from family members can be enough to disqualify a beneficiary.

A special needs trust is perhaps the best way to support your loved one and/or leave an inheritance without compromising benefits. The assets in the trust are designated for the beneficiary, but they belong to and are controlled by the trustee (usually the person establishing it). The beneficiary does not directly control how and when these assets are distributed.

As long as these and other conditions are met, a special needs trust will allow someone with physical or cognitive disabilities to receive financial assistance from their loved ones while remaining eligible for SSI and Medicaid benefits.

If you want to establish a trust to benefit someone you love, rely on a lawyer with nearly 23 years of experience. Our attorney, Karen H. Weber, is passionate about using estate laws to help individuals and families who need it most, including work with special needs trusts.

Call Us Today To Schedule A Consultation

Based in Overland Park, Weber Elder Law Offices serves clients throughout Kansas and Missouri. To learn more about what we can do for you, call us at 913-624-9366 or send us an email.