| David M. Frees, III |
Phone: 610-933-8069 120 Gay St, Phoenixville, PA 19460 |
Douglas L. Kaune |
A special needs trust is a way to provide your disabled loved one
without the assets affecting their government eligibility into
programs like Medicaid and Social Security Disability.
Find out if a Special Needs Trust is right for you.
Read the entire Report on Pennsylvania Special Needs Trusts/ Supplemental Needs Trust here.
Yes.
If you are disabled and receive benefits and a personal injury award
and or inheritance and you do not want to be disqualified from
government benefits a “self-settled” trust can help. A “self –settled” trust
is frequently created by individuals who have become disabled as a result
of an accident or medical malpractice and later receive a personal injury
award or settlement. This type of trust has specific requirements in order
to keep your government benefits such as Medicaid, Social Security, and
Section 8 Housing.
Please click here to read the entire Report on Pennsylvania Special Needs Trusts.
Special Needs Trusts Require The Right Trustee For A Tough Job
The trustee of any trust is an
important position.
In special needs trusts the trustee has
sole discretion to decide what the
beneficiary, your disabled loved one,
needs and what can be distributed
under state laws or federal regulations
without disqualifying the beneficiary.
They may spend quite a bit of time at the job in order to do it well.
They also often have the authority to liquidate the trust.
In short, trustee selection is vitally important,
If you are going to be the trustee
make sure you have a back-up trustee so if something
happens to you the right person is in place to take
on this important responsibility.
Also keep in mind if the trust is not administered correctly
your loved one could lose the benefit of government programs.
To read the entire Report on Special Needs Trusts/ Supplemental Needs Trusts click here.
To Find Out More About Special Needs Trusts and Who To Select as Trustee
Call David M Frees III Chairman Trust, Estates, and Wealth Preservation
610-933-8069 or dfrees@utbf.com
Special Needs and Supplemental Needs Trusts Are The Vital
Tool To Protect Our Loved Ones When We No Longer Can
A special needs trust or supplemental needs trust is a way to provide
for your disabled child or disabled loved ones quality of life.
The great thing about this type of trust is your child or loved one
will not be disqualified from government programs because
the assets are not considered theirs. In order to have the assets
in this type of trust unavailable to the government see the complete
Report on Pennsylvania Special Needs Trusts.
If you already know that you need to do estate planning,
or to update an old will or trust, for a special needs child or heir,
then please call 610-933-8069 and mention this article by David
Frees for a discounted estate plan only available to
David’s blog readers and existing clients and their families.
Do own a business, LLC, or corporation? Or, are you a
“C Level” Executive?
Ask about our enhanced and elite First Class
and Business class upgrades to your estate planning.
Our estate planning fees include wills, trusts (when needed),
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And, our superior two step process get you through the
planning and to signed documents faster and with more
precision than many other lawyers or firms.
Get this off your TO Do list. Call 610-933-8069 or
email dfrees@utbf.com for a call to schedule your planning
appointment.
by Douglas L. Kaune, Esquire
Estate Planning & Administration, Wills,
Trusts, Asset Protection, Elder Law
Unruh, Turner, Burke & Frees
Phoenixville, Malvern, West Chester PA
Pennsylvania Attorney
dkaune@utbf.com PH: 610-933-8069
A special needs trust (SNT) (or special needs trust provision in a Will or in another trust) is an important planning option if you are considering a significant gift to a beneficiary who is considered ”disabled” or “incapacitated” and either has or is likely to qualify for government benefits such as social security disability (SSI) or Medicaid. Generally, the SNT or Supplemental Needs Trust is intended to supplement the government benefits at the sole and absolute discretion of the named Trustee, but you can review this link for some more indepth discussion of the trust options.
The SNT frequently comes under attack by the government entity providing the benefit. It may be argued that the SNT should be expended for the care of the beneficiary and the government benefits be suspended until the Trust fund is exhausted. It is our job to make sure that your Special Needs Trust stands up to the scrutiny. One planning tip is naming multiple income beneficiaries, not just the “disabled” or “incapacitated” beneficiary. This allows us to argue that the trust is not just for the beneficiary receiving the SSI, Medicaid or other benefit, but is also for these additional income beneficiaries. Therefore, a complete expenditure of trust assets would be considered to “injure” the income beneficiaries and increases the likelihood that the SNT remains intact to supplement the needs of the intended beneficiary for his or her lifetime. This is just one of many strtegies we employ to increase the success of these trusts. We will be reviewing others in the weeks to come.
Please call or email me for further discussion on this and other estate planning topics.
Douglas L. Kaune
dkaune@utbf.com
610-513-2288
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