With a properly constructed Special Needs Trust, also known as a Supplemental Needs Trust, government benefits are allowed to continue uninterrupted and exist in spite of the settlement or inheritance. It is very important that the trust exists and the money never enters into the special needs individual's possession, and instead enters the Special Needs Trust.
OUR SERVICES TO YOU
- Identify beneficiaries in need
- Timely creation of the Special Needs Trust
- Review Established Plans to suggest improvements
- Advise regarding Trust Administration
EXAMPLE FROM THE FILE CABINET
Rita and Rob have three children, and one has a special needs condition that will require her to receive government assistance for the rest of her life. Rita and Rob know that if their child with these needs has too many assets in her own name that many of these benefits will be stopped until these assets are spent down. They contact the Missouri Elder Law Firm help structure their estate plan so that their daughter with special needs will both receive an inheritance and keep her government benefits.
The Missouri Elder Law Firm re-crafts the existing plan to include a properly executed Special Needs Trust, ensuring that their daughter will receive benefit from their inheritance while keeping her much needed government benefits.