Special Needs Trusts Attorney
At Meyers & Welch, we assist clients with various estate planning needs, such as the creation of trusts. Special needs trusts are a type of irrevocable trust that applies to aging individuals. Our attorneys can guide you step by step to create a trust for your benefit. To learn more about special needs trusts, contact our experienced lawyers by calling our office in Salem, Massachusetts, at 978.745.4410.
What Is a Special Needs Trust?
Also called a supplemental needs trusts, special needs trusts are created to ensure ongoing care of individuals with special needs, a handicap or a disability. The beneficiary of the trust can use the trust to pay for various supplementary needs such as:
- Medical and dental expenses not covered by insurance
- Home furnishings
- Recreational activity
Why Are Special Needs Trusts Important?
Special needs trusts are a way to protect the assets and secure funds for aging parents. If you leave your loved one assets through a gift or will, you may end up disqualifying him or her from receiving public benefits like Medicaid or Social Security Disability Insurance.
By leaving money in a special needs trust, your loved one will still be able to apply for government assistance programs. This is because trust money is managed by a trustee for the benefit of a loved one. The trustee uses his or her discretion to use trust funds to buy necessities for your loved one.
Experienced Estate Planning Attorneys
The attorneys at Meyers & Welch can assist with creating a special needs trust for an aging adult. We will go over everything you need to consider before creating a trust, listening carefully to your concerns. We will carefully word the trust in a way that is legally effective and clearly explains what the trust assets can be used for. Let us put our experience to work for you.