Special Needs Trusts
In Florida State, a special needs trust, called a supplemental needs trust, is a trust fund set up to benefit a person with a disability.
Special Needs Trust cases
You must set up a special needs trust to guarantee that your beneficiary with a disability has access to a wide range of assets for their healthcare needs while also avoiding the risk of losing out on essential government payments. The three most common reasons for establishing a special needs trust are: to protect the assets of a recipient with a disability who is entitled to benefits (for example, Medicaid); to protect assets such as personal injury settlements or inheritance funds granted to an individual with disabilities currently receiving benefits (which might include Supplemental Security Insurance or Social Security Disability), and to take assets from an elderly or individual with disabilities who is simultaneously applying for Medicaid.
Why do you need assistance from an attorney?
Collaborating with a financial team that is knowledgeable and skilled in all aspects of asset management, including special needs trusts, is critical to securing your and your family’s financial future. A team of specialists with experience with it won’t run afoul of any Medicaid or SSI requirements. Families with family members with disabilities must carefully plan for the future. It can have a significant influence on a person’s quality of life. A well-defined professional plan is necessary to safeguard a person with special needs.
Get Help From An Experienced Florida Special Needs Trust Attorney Now By Getting In Touch With Us At Davey Law Group.