Protecting the Future of Your Loved Ones
At Jeffrey Orr Law, we understand the importance of planning for the long-term well-being of family members with disabilities. A Special Needs Trust is a vital tool that allows you to provide financial support without jeopardizing their eligibility for essential government benefits like Medicaid and Supplemental Security Income (SSI).
A Special Needs Trust (also known as a Supplemental Needs Trust) is designed to hold assets for the benefit of an individual with special needs. Funds in the trust can be used for a wide range of life-enhancing expenses, including medical care, education, transportation, therapies, and recreational activities—without counting against income and asset limits imposed by government programs.
Key Benefits of a Special Needs Trust
- Preserve Eligibility for Public Benefits: Assets held in a properly drafted Special Needs Trust are not counted as resources, allowing the beneficiary to continue receiving critical aid.
- Enhance Quality of Life: Trust funds can be used to supplement government benefits by covering personal needs, hobbies, travel, home modifications, and more.
- Professional Management: A trustee manages the trust assets according to your wishes, ensuring funds are used wisely and for the benefit of the individual.
- Peace of Mind: Knowing your loved one will have financial support and protection, even after you are no longer able to provide care, can offer invaluable peace of mind.
Types of Special Needs Trusts
- First-Party Special Needs Trusts: Funded with the disabled individual’s own assets, often from an inheritance, legal settlement, or savings.
- Third-Party Special Needs Trusts: Funded with assets from someone other than the beneficiary—typically parents, grandparents, or other loved ones.
- Pooled Special Needs Trusts: Managed by nonprofit organizations that combine (or “pool”) funds from many individuals for investment purposes while maintaining separate accounts for each beneficiary.
Customized Solutions for Your Family
Every family’s situation is unique. Jeffrey Orr Law works closely with clients to create tailored Special Needs Trusts that reflect your specific goals, concerns, and the needs of your loved one. Whether you are planning for a child, sibling, parent, or another dependent, we guide you through the process with care and attention to detail.
Why Choose Jeffrey Orr Law?
- Compassionate Guidance: We approach every special needs planning case with sensitivity and respect.
- Extensive Experience: Our firm is well-versed in trust law, estate planning, and government benefit regulations.
- Personalized Service: We take the time to understand your family’s needs and create a plan that works best for your situation.
Protect Your Loved One’s Future Today
Contact Jeffrey Orr Law to schedule a consultation and find out how a Special Needs Trust can safeguard your loved one’s future while preserving access to critical benefits.