The special needs planning attorneys at Bingaman Hess help families across Reading, Berks County, and Eastern Pennsylvania set up trusts that provide for a loved one with disabilities without jeopardizing government benefits.
Experienced Special Needs Trust Attorneys
If you care for a child or someone with special needs, you probably worry about what will happen to them when you are gone. You may want to make sure there is someone who will make important decisions on their behalf, or you may want to provide financial assistance so they can continue to live comfortably.
As with so many things, there is a right way and a wrong way to ensure that your loved one is taken care of. If you do it the wrong way, they could be disqualified from receiving certain government benefits, such as Medicaid and Supplemental Security Income.
The experienced special needs trust attorneys at Bingaman Hess can help ensure that you do it the right way.
Special Needs Planning the Right Way
A special needs attorney can help ensure that your loved one with special needs is taken care of for the rest of his or her life. We realize that often government benefits only cover the bare essentials; therefore, our special needs trust lawyers can set up a trust to ensure your loved one receives the supplemental funding they need to live comfortably without losing the government benefits they are entitled to.
Special Needs and Supplemental Trusts
A special needs trust attorney can set up “a special needs trust,” which is funded by assets the special needs person owns and/or “a supplemental needs trust,” which is funded by your assets.
The money in those trusts can be used to pay for certain expenses – such as transportation, out-of-pocket medical expenses, special education and entertainment - without risking the loss of government benefits.
However, many regulations need to be followed, such as the amount of countable assets the beneficiary can have in his or her name, including savings, real estate, and investments. A special needs attorney can ensure that you follow those regulations, so your beneficiary remains eligible for government benefits.
In addition, the special needs lawyers at Bingaman Hess can help you name a trustee to manage the funds within the trust(s).
Legal Guardianship
If your loved one with special needs is unable to make important decisions for themselves – regarding financial matters or their daily care – a special needs trust attorney can establish a legal guardian to make decisions on their behalf.