Special Needs Trusts: Find Out Why They Are Beneficial
Special needs trusts or supplemental trusts enhance lives by providing money for things such as making a home accessible, better clothing and personal care as well as hobbies, computers, vacations and entertainment. If you are the parent, grandparent or guardian of a person with special needs, you can establish a special needs trust.
It is important to ensure that receiving funds from a special needs trust does not disqualify the person from government benefits such as Social Security Disability Insurance/Supplemental Security Income or Medicaid. Government assistance for medical care and housing is typically need-based, so it is best to have an attorney create a special needs trust that does not put the beneficiary over the asset limit. Please call J. Kevin Tharpe, P.C., at 866-253-6994 to make an appointment with a Northeast Georgia special needs trust lawyer.
Special Needs And Supplemental Trusts
Special needs trusts can be created for disabled or mentally incapacitated people under age 65. Some of the most common conditions that require special care include autism, Down syndrome, cerebral palsy, multiple sclerosis, traumatic brain injuries, and Alzheimer’s and dementia. These trusts will provide supplemental and extra care over and above that which the government provides. They can be established by a parent, grandparent, guardian or the court.
We can help you establish a trust and choose an appropriate trustee to manage the funds for the beneficiary. Attorney J. Kevin Tharpe has the experience to structure the trust so the beneficiary receives the funds while remaining eligible for government benefits. Whether a third-party trust or self-settled trust is necessary, you can rely on Kevin’s extensive knowledge of special needs planning.