SPECIAL NEEDS TRUSTS
Special Needs Trusts may allow disabled individuals to Preserve Governmental Benefits and Protect Assets. To learn more, call today and schedule a free initial consultation - (508) 655-5300.
What is a Special Needs Trust?
A Supplemental Needs Trust (commonly called a Special Needs Trust) is a specialized legal document designed to benefit an individual who has a disability. A Special Needs Trust enables a person under a physical or mental disability, or an individual with a chronic or acquired illness, to have, held in Trust for his or her benefit, an unlimited amount of assets.
In a properly-drafted Special Needs Trust, those assets are not considered countable assets for purposes of qualification for certain governmental benefits. These benefits may include Supplemental Security Income (SSI), Medicaid, vocational rehabilitation, subsidized housing, and other benefits based upon need. A Supplemental Needs Trust provides for supplemental and extra care over and above that which the government provides.
Special Needs Trusts had been used for years based upon case law. In 1993, Congress passed legislation that specifically authorized the use of Special Needs Trusts for the benefit of individuals who are under the age of 65 years and disabled according to Social Security standards.
Preserve your government benefits and protect your assets.
If you or your loved one would benefit from the protections of a Special Needs Trust, call the Law Offices of Richard A. Glaser for a free initial consultation - (508-655-5300).