317-426-9334             445 N. Pennsylvania St., Indianapolis, IN   46204

Special Needs Trust

 

We work hard to take care of our families, especially those that need our help the most. But what happens to them after we've gone? Discussing your estate planning needs with experienced Indianapolis Estate Planning Attorney Barbara J. Baird can help you get everything arranged to protect the interests of yourself and your beneficiaries, especially your beneficiaries with special needs. Dealing with beneficiaries with special needs is a circumstance that requires a top-notch estate planning attorney to help you establish a "Special Needs Trust".

 

Leaving funds to individuals with special needs may sometimes prevent them from qualifying for important benefits under the Supplemental Security Income (SSI) and Medicaid programs. These limited benefits programs will not provide them with the assets that would allow them to enjoy a better quality of life, above and beyond the government's assistance with food and housing costs. But if parents  leave  any  assets  to  a  child  (grown  or  not)  who  is  receiving  public benefits, they run the risk of disqualifying the beneficiary from receiving this assistance.  Fortunately,  the  government  has  established  guidelines  allowing assets  to  be  held  in  trust,  called  a  "Special  Needs  Trust"  or  "Supplemental Needs Trust".

 

A Special Needs Trust should be established as early as possible, but no later than the beneficiary's 65th birthday. One benefit of having the Trust in place is that if the beneficiary becomes the recipient of gifts, bequests or a settlement from  a  lawsuit,  these  funds  can  be  transferred  to  the  Special  Needs  Trust without affecting that individual's eligibility for government benefits.

 

You should also establish a Special Needs Trust to protect your disabled beneficiary from potential  creditor  harassment.  This  protects  your  disabled  beneficiary  from losing these funds in a lawsuit as well. Because the funds in the Special Needs Trust  are  not  counted  as  "available  assets"  for  the  purposes  of  government benefit eligibility, more of this money can be used for those extra expenses that will  allow  your  disabled  beneficiary  to  enjoy  a  better  quality  of  life.  Indiana Special Needs Trust Lawyer Barbara J. Baird will help you get everything in order so that you can be sure your disabled child or beneficiary will be taken care of.

 

Whatever  your  circumstance,  it  is  important  that  you  seek  a  qualified Indianapolis Special Needs Trust Attorney who can make the process of taking care of your disabled beneficiary easy and straightforward.

 

 

 

 

 

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Barbara J. Baird Attorney at Law

445 N. Pennsylvania St

Indianapolis, IN   46204

317-426-9334

© Copyright 2018 Barbara J. Baird  |  advertising material

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