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Elder Planning Isn't Just For The Elderly

Unlocking the potential of special needs trusts

When it comes to ensuring the financial security and well-being of a loved one with special needs, many families face unique challenges.

A special needs trust can be a powerful tool in addressing these challenges, providing a stable financial foundation for the future.

Protecting government benefits

One of the main advantages of a special needs trust is its ability to protect the beneficiary’s eligibility for government assistance programs, such as Supplemental Security Income and Medicaid. These programs often have strict income and asset limits, and a direct inheritance or large cash gift can disqualify an individual from receiving these crucial benefits. By placing assets in a special needs trust, families can ensure that their loved one remains eligible for assistance, while still providing financial support for their needs.

Customized financial management

A special needs trust allows for personalized management of assets to meet the unique needs of the beneficiary. The trustee, who oversees the trust, has the responsibility to make decisions on behalf of the beneficiary, ensuring that they use the funds in the best interest of the individual with special needs. This level of customization can include allocating funds for specific purposes such as education, therapy, medical expenses and recreational activities, tailored to the beneficiary’s unique situation and requirements.

Long-term financial security

Establishing a special needs trust provides a secure and lasting financial foundation for the beneficiary. One can fund the trust with various assets, such as cash, real estate, investments and life insurance proceeds, which can grow over time to ensure a stable source of support for the beneficiary’s lifetime. Additionally, creditors and legal judgments cannot access the trust assets, further safeguarding the financial well-being of the individual with special needs.

A special needs trust can contribute to a brighter future for those with special needs, empowering them to lead more fulfilling and independent lives.


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