Special Needs Planning
Special Needs Trust Attorney Serving Queens and the New York Area
New York Special Needs Planning & Estate Planning Law Firm
If you are raising a loved one with special needs, you know the importance of government assistance programs such as Medicaid and Social Security Income (SSI) in helping your loved one receive the care he or she needs. You are also cognizant of the fact that this assistance is not enough to provide the best possible care. Special needs planning allows for the provision of services that are not covered by government programs while simultaneously preserving your loved one’s eligibility for these programs.
Special Needs Trusts In New York
Several types of trusts are used in special needs planning, the most common of which are support trusts and special needs trusts. In the case of support trusts, a trustee is authorized to make distributions to provide goods and services such as food, clothing, shelter, and medical care for the person with special needs. However, beneficiaries are not eligible for assistance from SSI or Medicaid.
Special needs trusts, on the other hand, allow for the management of important resources while maintaining eligibility for SSI and Medicaid. They can be created by using the disabled person’s own assets, such as proceeds acquired through a judgement or settlement. Special needs trusts can also be created using funds provided by the disabled person’s family.
At The Estate Planning and Elder Law Group, we have extensive experience drafting both self-settled special needs trusts and third-party special needs trusts. Our firm is committed to helping individuals with special needs receive the best possible care today and for years to come.
Special needs trusts offer a number of important benefits, including:
- Preserving eligibility for SSI, Medicaid, and other government assistance programs
- Providing funds to pay for services and goods not covered by government programs, such as advanced dental and medical care; education and specialized training; specially-equipped vans; recreation and entertainment; travel; electronic equipment; a car, bus/rail pass, and ride share membership; and more
- Protecting assets and funds acquired from a judgement or settlement
Contact an Experienced New York Special Needs Planning Attorney
Ultimately, a special needs trust gives you the peace of mind that comes from knowing your loved one will receive the best possible care while still retaining eligibility for essential government services. We invite you to contact us for a personal meeting to learn more about the benefits of special needs trusts.