Special Needs

We can help you determine which type of special needs trust is right for you and your family.  There is no one option that fits all when it comes to tending to the needs of your loved ones with special needs.  There are many factors to consider and you don’t want to leave their well-being to chance or the assumption that someone else will ensure they are taken care of.  Let’s talk about your specific situation so we can make sure you have the coverage your family needs. 

Our unique approach takes into consideration some of the following factors:

• Ensuring state benefits will not be compromised 
• Protection of assets through the process
• Understanding tax consequences along the way
  *We are not licensed to provide tax or legal advice.

Often times, families are under the impression of which asset(s) would need to be liquidated to provide funding for the quality of life for surviving family members.  Funding options should be discussed with a certified professional.

A life insurance policy can help with funeral expenses, college tuitions, debt, mortgage, and lifestyle expenses, but if you have a dependent that has special needs they may be at risk of losing government benefits.  As a special needs beneficiary they can only receive a limited number of assets. 

A special needs trust manages assets for that dependent so they can continue to qualify for social security and medical benefits, while using the funds in the trust as needed. 

Choosing which assets should go into the trust so you don’t incur too many taxes when it’s taken out is an important factor of setting up your special needs trust.