PROVIDE FOR LOVED ONES WITH SPECIAL NEEDS
Are you concerned about the well-being of a special needs child or other dependent after you’re gone? If you leave an inheritance to this loved one, he or she could lose government benefits. That’s when a Florida Special Needs Trust (also referred to as a Supplemental Needs Trust) can help.
A Florida Special Needs Trust is a form of Irrevocable Trust that provides for supplemental care and life-enhancing services and equipment beyond that which the government provides. A Special Needs Trust can also be created as a Revocable Trust. Because the assets named in a Special Needs Trust are not considered countable assets, the Trust does not hinder the disabled person’s eligibility and qualification for government “needs-based” benefits such as Medicaid, Supplemental Security Income (SSI), vocational rehabilitation, or subsidized housing.
At the Flammia Elder Law Firm, we understand the sensitive nature of Special Needs Planning. In addition to drafting Florida Special Needs Trusts, we work closely with parents and caregivers to develop a well-thought-out plan for loved ones who will require lifetime care. We will perform an assessment of public benefits currently received, an assessment of assets to be transferred into the Trust, outline the steps necessary to create the Trust, draft the proper documents, and help with the transfer or alignment of assets into the Trust.
I highly recommend attorney Kathleen Flammia for any legal family matters. I have had the pleasure of using her services numerous times over 10 years and Kathleen and her staff have always exceeded my expectations; very knowledgeable, highly professional and solid results.
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Visit the Flammia Elder Law Firm’s Family Education Center to access FREE videos and other helpful information. To discuss establishing a Special Needs Trust, schedule your consultation today.
Call (407) 478-8700 or email us.
Special Needs Trust FAQ
Who are the parties in a Third-Party Special Needs Trust?
The parties involved in this type of Trust are:
- The Grantor or Settlor: The person establishing the Trust
- The Trustee: The person or entity named to manage the Trust
- The Beneficiary: The person receiving the benefits
What makes a Third-Party Special Needs Trust different?
Two factors set Third-Party Special Needs Trusts apart:
- The funds held in a Third-Party Special Needs Trust are not subject to seizure by creditors.
- Medicaid’s five-year “look back” period does not apply to money transfers into the Third-Party Special Needs Trust.
Can a Special Needs Trust be creating using online forms?
No. Special Needs Trusts must comply with Medicaid and SSI Rules. That’s why it’s so important to work with a law firm with experience in these matters. The attorney you choose must be knowledgeable about Florida Special Needs Trusts.
Not every Estate Planning attorney is familiar with this area of law. The Flammia Elder Law Firm specializes in special needs issues, public and government benefits programs, and the proper creation of these unique and critical Trusts.