A Special Needs Trust (SNT) is a valuable estate planning tool designed to provide financial security for individuals with disabilities while preserving their eligibility for government assistance programs. Properly structured, an SNT ensures that funds are used for the beneficiary’s well-being without jeopardizing essential benefits.
Preserving Government Benefits
A Special Needs Trust allows individuals to receive financial support without affecting eligibility for programs like Medicaid and Supplemental Security Income (SSI). This ensures continued access to healthcare and other essential services.
Flexible Financial Support
Funds in an SNT can be used for a wide range of expenses, including medical care, education, transportation, and recreational activities. This flexibility helps improve the beneficiary’s quality of life.
Protection Against Mismanagement
By appointing a trustee, families can ensure that assets are managed responsibly. The trustee oversees fund distribution, ensuring that resources are used appropriately for the beneficiary’s needs.
Avoiding Probate
Assets placed in a Special Needs Trust bypass probate, allowing for a seamless transfer of funds without delays or legal complications. This ensures financial stability for the beneficiary.
Long-Term Security
An SNT provides structured financial support throughout the beneficiary’s lifetime, ensuring continued care and stability.
For expert legal guidance on establishing a Special Needs Trust, consult The Eastman Law Firm.
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Name: The Eastman Law Firm
Address: 4901 W. 136th Street, Ste. 240Leawood, Kansas66224
Phone Number: (913) 908-9113
Website: www.theeastmanlawfirm.com
Planning ahead ensures financial security and peace of mind for families. Consulting an estate planning professional can help tailor solutions to individual needs.