Burbank Special Needs Trust Attorney
California Special Needs Planning Lawyer
“Failing to plan is planning to FAIL.” - Ben Franklin
California Special Needs Trust Attorney
Are you a Disabled Person that is Expecting a Court Ordered Settlement and Needs a Special Needs Trust (SNT) set up to protect Your Public Benefits?
The rules for setting up Special Needs Trusts can be complicated and it is important to make sure that a person in need of a SNT good legal advice from an elder law attorney about how to set one up in order to avoid serious problems. LA LAW Attorneys have experience at setting these trusts up and understand that they in many cases need to be created quickly as generally time is of the essences!
A Special Needs Trust (SNT) is a legal document that allows a trust fund to be set up that a different person or financial institution manages assets for the disabled person.
The disabled person is called the “beneficiary” and the person or institution that manages the assets is called the “trustee.” Once the trust is set up, a variety of assets can be put into a trust fund, such as cash, stocks, bonds, and real estate investments. This type of trust is extremely important if the disabled person was injured and is expecting a large sum of money from a court ordered settlement! If this person is already on public benefits, placing the money from the settlement directly into the SNT, will ensure this person will not lose his/ her public benefits.
An SNT provides for the needs of a person with a disability without losing or reducing their benefits such as Supplemental Security Income (SSI), Medi-Cal, In-Home Support Services (IHSS), and HUD housing assistance. Assets in an SNT won’t be counted toward the SSI, Medi-Cal and IHSS asset limit of $2000 for an individual.
Special Needs Trusts are a complicated but important issue. If you have questions about these trusts, our elder law attorneys offer a free phone or office consultation.
Our elder law attorneys work with personal injury attorneys to ensure the SNT is set up before the court ordered settlements is available so the money can quickly be put into the trust as soon as available when the judge awards damages to the disabled person.
After a thorough review of the best strategies for your estate and special needs planning and our fees for the scope of work, we will structure a comprehensive estate plan created specifically to protect your assets, your loved one and allow you to stay in control of your life and your money.
Take advantage of a free phone consultation or appointment for a free 30 minute consultation to review your individual situation and determine if you would benefit from our experience and legal services.
Call us at: (818) 241-4238