Special Needs Trust and what to consider

HESS-VERDON – #1 SOUTHERN CALIFORNIA SPECIAL NEEDS TRUST FIRM

What are Special Needs Trusts (SNTs)?

A Special Needs Trust is a legal document and trust designed to assist people with disabilities. It allows the disabled beneficiary to have an unlimited amount of assets while still qualifying for government benefits, such as Medicaid.

Should I use a Special Needs Trust Attorney?

We found, after speaking with many families with SNT needs, that it is of the highest importance to reach out to an expert to ensure properly established trust documents. If not careful, many small issues can jeopardize the SNT. We recommend reviewing a few special needs trust attorneys to ensure they are the team you will feel comfortable with and will be around to assist whenever necessary. Hess-Verdon is a Special Needs Orange County Trust Attorney Law firm.

Special Needs Attorney Near Me

Usually, these government-funded benefits provide the recipient with food, shelter, clothing, or essential medical services. However, without supplemental funds or resources, these minimal government benefits do not provide adequate cover. Minimum cover for dental care, specialized therapy, equipment to provide extra comfort or mobility, or resources for recreation.

What funds can my special needs Trust Attorney in Newport Beach cover in a special needs trust?

1. One car/van but should be in the Trustee’s name
2. Insurance for the car but should be in the Trustee’s name
3. Legal services like accounting
4. Memberships like a gym, yoga, clubs, etc
5. Can purchase appliances like a TV, washer/dryers, refrigerators, etc.
6. Services like cable, etc
7. Electronic hardware like computers, software, internet services
8. Learning topics like courses and classes
9. Things around the house like rugs, drapes, etc.
10. To pay for things in the home like towels, deodorant, soap, personal hygiene products, etc.
11. Others are like dental work not covered by Medicaid. (Annual Checkups)
12. If there are enough assets to buy a home outright, the beneficiary may be able to live in the property rent-free and will not affect their SSI grant.

What expenses can’t a Special Needs Trust Pay?

1. Food like groceries, going out for dinner, etc..
2. Can’t be used for a mortgage including paying for property insurance
3. Rent
4. Gas, water, sewer, garbage, gift cards

Why are some things not covered?

1. You can jeopardize SSI/ Medicaid/ Food Stamp Benefits as it is considered income. Your SSI benefits would pay for these.

Learn more about Third-party special needs trust.

Before understanding what a third-party needs trust is, it’s essential to know the types of Trusts associated with special needs. We’ll go over the types of special needs trust below designed to manage the resources of a person with special needs.

Types of Special Needs Trusts (Irrevocable Trust)

1. Third-party Special Needs Trust
2. First-party Special Needs Trust
3. Pooled Trusts