Experts in Disability Planning and Special Needs Trusts in New Jersey
When a loved one has special needs, long-term planning is especially important. Making a care plan secures a stable financial future and connects the person to the assistance that’s available to them through governmental programs. These programs include Supplemental Security Income (SSI), Medicaid, and housing funds. Making a plan for every potential outcome of surprises life might throw their way provides a person with special needs financial security and eases transitions when situations start to change. Making sure the people we love always have the care they need is vital. Experts in New Jersey’s estate and elder law care At Bratton Law Firm can help set up a special needs trust to give your loved one financial protection now and in the future.
What is a Special Needs Trust?
A special needs trust (also called a Supplemental Needs Trust) exists to guarantee a loved one’s access to financial help from the government and provide for them financially over the course of their life. When a person is given additional outside monetary gifts or assets, it can affect their eligibility for need-based governmental assistance programs or even prompt these programs to ask for a reimbursement. Creating a special needs trust helps to ensure that people receiving assistance continue to be eligible for the help they require.
Who benefits from a Special Needs Trust?
Many people can benefit from a special needs trust. A trust can be financially essential, especially when a loved one suffers from one of the following:
- Physical disability
- Psychiatric issues
- Memory loss
- Mental illness
- Chronic Illness
A special needs trust can be created for anyone at any age. Especially if a loved one receives financial help from Medicaid or SSI, a special needs trust is an important way to protect their assets. It is also recommended for people living in group homes or who receive other need-based financial help. A trust can ensure that all of their assets get passed down to their beneficiaries and solidify their financial future so they can access the care they need throughout their life.
How can a legal expert help?
A legal expert in disability benefits can draft the complex documents needed to legally create a special needs trust. An expert gives counsel on limiting tax liability and continuously reviews eligibility for governmental assistance programs. They will help you solidify all of the documentation needed to give your loved one well-protected financial security.
Contact Experts for Advice on Special Needs Trusts
While looking for experienced legal professionals to help you create or manage a special needs trust, the qualified specialist at Bratton Law Firm are here to help. As experts on New Jersey’s estate and elder law care, Bratton Law’s team is prepared to guide you and your loved ones through a trust’s creation and management. Our award-winning team has offices in Haddonfield, Linwood, and Ewing, NJ, as well as Philadelphia, PA. Give us a call at (856) 857-6007 or contact us through our website to schedule your confidential consultation.
