Establishing a special needs trust allows you to protect or hold assets for your loved one with disabilities. However, your beneficiary can lose their eligibility for government assistance with this trust. But, when done right, you can manage assets for your loved one without compromising their Medicaid or SSI.
Here are some dos of establishing a special needs trust.
- Do name an executor
- Do make sure your special needs trust is ascertained
- Do hire a lawyer to help you create the document
- Do discuss with your family about your special needs plan
Contact Meurer Law Offices P.C. today to hire an estate planning attorney for professional assistance with your special needs trust.