A special needs trust is a great option for individuals who want to financially provide for their loved ones with disabilities. Here are three reasons why establishing a special needs trust is important.
- It allows you to choose someone to serve as a trustee when your loved one is incapable of managing finances.
- It protects assets for your beneficiary without affecting their Medicaid or SSI.
- It doesn’t create a tax burden and protects your assets from creditors.
It’s wise to consult with an estate planning attorney to learn more about establishing a special needs trust. Contact Meurer Law Offices P.C. to schedule a free consultation with an experienced estate planning attorney.