Special Needs Trusts
A Special Needs Trust is a legal arrangement created to provide financial protection and care for an individual with special needs or disabilities. This trust allows for the organized management of finances and assets while safeguarding the beneficiary’s eligibility for essential government benefits. At UBFK Law, we create tailored Special Needs Trusts to ensure it meets the specific needs and legal requirements for the beneficiary.
A Special Needs Trust protects the beneficiary’s eligibility for critical government assistance programs, such as Supplemental Security Income and Medicaid. These programs often have strict asset and income limits that, if exceeded, could result in loss of benefits. By placing assets into a properly structured Special Needs Trust, your loved one will continue to receive necessary assistance.
Special Needs Trusts provide supplementary financial support and quality of life enhancements for the beneficiary, that are not covered by government assistance programs. This can include covering medical expenses, therapy, education, recreational activities, and more. This aspect is beneficial to their families as well, granting them peace of mind knowing that their loved one’s well-being and financial state are supported.
Each individual with special needs is unique, and their needs can vary widely. Our experienced estate planning attorney, Shira Frackt, Esq., will work closely with you to create a personalized Special Needs Trust tailored to the specific requirements of the beneficiary, ensuring their care and support for the long term.
Incorporating a Special Needs Trust into your estate plan is an essential step in providing financial stability and an improved quality of life for your loved one with special needs. Contact UBFK Law to set up a consultation to ensure the secure future of your loved one. We are here to guide you through the intricacies of estate planning and create a uniquely tailored, comprehensive estate plan for you and your family.