Special Needs Trust Lawyer O’Fallon, MO
If you have a child with special needs, establishing a trust for them can be invaluable for their well-being after your passing. With the help of a special needs trust lawyer in O’Fallon, MO from the Law Office of Eric H. Luckman, P.A., you can establish a trust that will offer you peace of mind that your loved one will be cared for when you are no longer able to take care of him or her. We offer families a free consultation to discuss their circumstances and learn how we can assist them. Call us today to schedule your complimentary review with an experienced special needs trust lawyer in O’Fallon, MO from our firm.
What is a special needs trust?
A special needs trust is a legally recognized arrangement in which someone transfers any number and manner of their assets into an account that is intended to benefit the beneficiary (their child in this context) after their passing. The person who manages the trust is known as the trustee. The person who created the trust can name themselves as the primary trustee, and also name a backup person to succeed them if they become incapacitated or for when they pass away. A trust lawyer in O’Fallon, MO from the Law Office of Eric H. Luckman, P.A. may help you create the trust. In addition, keep in mind the following:
- A special needs trust is intended to benefit a mentally ill or disabled individual.
- The beneficiary of the special needs trust does not have the mental capacity to manage their own finances.
- The beneficiary’s special needs, lifestyle, and certain other factors are taken into consideration when a special needs trust lawyer in O’Fallon, MO helps the trustee create the trust.
- One of the primary reasons for creating this type of trust is to ensure that the beneficiary does not lose their government benefits which might happen if they were to inherit assets via a will.
The Benefits of a Special Needs Trust
Your child may already qualify for governmental assistance including Medicaid, Supplemental Security Income, subsidized housing, and vocational rehabilitation. These are at risk if you were to leave your assets to your child through a will and not through a trust. As a special needs trust lawyer in O’Fallon, MO from our firm might explain, a lump sum of money from an inheritance through a will may increase their “earnings” enough that they will no longer qualify for assistance. Even if your child is not currently receiving benefits, they may need them in the future and so a trust can protect them in advance.
Meet with a Special Needs Trust Lawyer in O’Fallon, MO from the Law Office of Eric H. Luckman, P.A. at No Charge
At the Law Office of Eric H. Luckman, P.A., we don’t charge families for the first consultation to discuss their options for setting up a trust for their child. We encourage you to take advantage of this opportunity to learn more about how you can protect your child after your passing. It’s important to understand your legal options in caring for your special needs son or daughter. Call us today to schedule your free consultation with a special needs trust lawyer O’Fallon, MO families turn to with confidence.