Trust Options for Those with Disabilities in North Fort Myers
Parents of children with disabilities and people with disabled family members often worry about how they can provide for the care of their loved one without interfering with government benefits. In most cases, government help is appreciated, but it does not offer enough financial support to maintain a good quality of life. If you or someone you love has disabilities, then you need to learn about legal trust options that will allow you to care for them without interfering with government benefits.
Special Needs Trust
A Special Needs Trust is a legal vehicle that protects assets while still allowing the beneficiary of the trust to receive government assistance. If you have a disabled child and are concerned about what kind of care they will get after you pass away, then a special needs trust is the ideal solution. You can add assets to a special needs trust. You can then make arrangements for those assets to be used for your child’s care after you have passed away without stopping the flow of government financial assistance.
How does a Special Needs Trust Work?
A Special Needs Trust is set up based on Social Security laws pertaining to people under the age of 65 who receive SSI benefits for their disabilities. The trust is set up with a trustee in charge who manages the funds. The trustee also determines how the funds are distributed based on the laws governing a Special Needs Trust. The trustee can be a family member or friend who has been given specific authority to handle the business of the trust.
Creating Guardianship
Whether it is your disabled child or a disabled family member you are caring for, you should talk to a lawyer about setting up a guardianship that takes effect after you have passed on. When you take care of these details now, you will have peace of mind knowing that your disabled loved one will be properly cared for during the duration of their life.
Our firm has years of experience in setting up and helping to maintain Special Needs Trusts. We understand how confusing the process can be for setting up this very important legal vehicle for your loved one. That is why our compassionate and reliable special needs planning attorneys are here to answer your questions and make sure that you have everything in place to care for your disabled loved one.