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Do I need a special needs trust?

A special need trust is a trust that protects assets for someone who might be on some kind of state disability from having the state come back and try to take assets left to them through a trust. An example of this is if I had a child with special needs and they have been receiving state funding for years and I leave the money, it’s possible that money might have to go back to repay for the care that they’ve had. A special needs trust can lock that money up and say, “It’s only here to supplement and add to any state disability or federal aid that they’re getting and creditors cannot come and get it.”

We create these provisions in regular trusts for people that have children that are dealing with developmental disabilities for no extra charge. This trust is saying, “Look, I don’t want of bunch of money that I’m leaving to my child that I love who already has this issue to then go to the government.”

  • Does transferring a property into a living trust protect me from creditors or lawsuits?

    Unfortunately, transferring a property to a living trust does not protect you. One of the advantages of a living trust is that you can change it. The reason you can […]

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  • Can I do my estate planning through LegalZoom?

    What is the difference between me handling things myself using LegalZoom vs. coming here and working with you? As a person who is a do-it-yourselfer, I understand the urgent desire […]

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  • Should I discuss with my children how they fit into my trust?

    Should I have conversations with the people that I am planning to put into my trust? It usually comes down to children and many people completing this process are doing […]

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