Managing a Special Needs Trust Can Be Confusing, Our Attorneys Can Help You
A well-drafted special needs trust should provide financial resources for the lifetime of your loved one with disabilities. Special needs (or supplemental) needs trusts are specifically designed to ensure that the beneficiaries who have disabilities can gain access to government benefits, if needed.
Special needs trusts are complex and there are several types with different requirements. We recommend you and your family work closely with a special needs trust attorney to discuss your unique needs and the unique needs of your loved one with disabilities to choose the right type of trust to create.
Setting up a special needs trust will assure your loved one is able to maintain a higher quality of life and access to government benefits.
The reasons why you may want to set up a special needs trust are varied. Some of the most common situations include:
- When your loved one with a disability has received a personal injury settlement.
- When your loved one receives an inheritance or when a family wishes to give a loved one with disabilities a gift and doesn’t want to jeopardize the loved one’s access to government benefits.
There are many compelling reasons to establish a special needs trust for your loved one with disabilities. If you need help setting up a special needs trust in New York, or have questions about an existing special needs trust, contact our Auburn (Cayuga County) and Westchester County special needs trust attorneys today.