Gainesville Special Needs Trust Attorney

Special Needs Planning

If someone in your life receives government benefits like Medicaid or Supplemental Security Income, leaving money or assets to them can be disastrous. Government benefits often require that the recipient of those benefits not have too many assets or too much income. Thus, if you give that person anything of value, your gift could result in a costly loss of benefits.

This is a major problem for parents of children with special needs. Often, these children will need care all throughout their lives. And parents understandably want to provide for their children, even after death. But how can the parent provide for a special needs child? The answer is that the parent can use a supplemental needs trust.

A supplemental needs trust is a kind of special needs trust. The supplemental needs trust is set up and financed by someone other than the person receiving government benefits. When properly set up, that trust can provide the special needs beneficiary with help without disqualifying them from receiving the government benefits they need.

Providing for Your Special Needs Children

A supplemental needs trust does far more than just preserve government benefits. When properly set up, a supplemental needs trust can protect the assets in the trust from creditors. This is important, as conmen, scammers, and crooked dealers often prey on the most vulnerable in society. But assets in a well-drafted supplemental needs trust are not available to your child’s creditors. This accomplished through the use of a spendthrift clause in the trust.

The supplemental needs trust is also a way to continue providing care to your children after you are gone. The trust can pay for things that you think your special needs child needs but that are out of reach for government benefits. It can also increase your child’s quality of life.

Special Needs Trust Attorney in Gainesville, FL

Blakely Moore is a special needs trust attorney practicing in the Millhopper area. He is a double Gator, earning both his undergraduate and law degree from the University of Florida. If you are in or near Alachua County and have a special needs loved one, schedule a free consultation today.