Creating And Managing Special Needs Trusts
Living with a disability or serious injury presents its own unique challenges. Your strength and energy are best devoted to activities of daily living and, to best achieve this, it is wise to partner with experienced attorneys who can manage legal matters on your behalf.
At the Baker Law Firm in Danbury, our lawyers use more than 50 years of combined experience to represent personal injury victims and people with disabilities in matters related to special needs trusts. We draft and manage these trusts so as to protect our clients’ interests. We can also assist clients with filing an application for guardianship of adult children and other situations in which an adult is unable to responsibly manage their own finances.
At our Connecticut firm, many of our clients come to us on referral from local social services organizations who know our reputation for ethical and effective legal action. Our attorneys have years of experience assisting clients with creating and managing plans for their estates in a variety of situations.
How Special Needs Trusts Work
A special needs trust is a trust created for the benefit of a disabled beneficiary who is receiving (or may be eligible to receive) government benefits. If you receive such benefits, including Social Security, Medicare and Medicaid, your eligibility for these programs is often dependent on certain income and asset limits. Income and compensation from a personal injury settlement or other source — such as a part-time job — may actually disqualify you for the support you depend on.
Creating a special needs trust allows you to continue receiving that support. Your personal assets can be captured in special needs trusts so that you can still get government benefits for medical, housing and other services. Personal assets can then be reserved for your extraordinary needs like special assistance on the job or other accommodations, vacations, entertainment devices and special clothing.