Disability Planning Special Needs Trusts in NJ and PA
We go out of our way to love and care for our family and friends every day. When it comes to long-term planning, especially if you have a loved one with special needs, it is important that you plan for any one of several possible scenarios.
When it comes to securing their financial future, there are a number of special needs governmental programs that your loved one may be entitled to participate in, including Supplemental Security Income (SSI), Medicaid, and programs that provide funding for housing and other living expenses.
Further, if you have loved ones in cities such as Cherry Hill or Philadelphia with special needs, a special needs trust is one way to help make sure they are protected financially now and in the future. Speak with a knowledgeable special needs trust attorney at Bratton Scott.
What is a Special Needs Trust?
The main purposes of a Special Needs Trust (also called a Supplemental Needs Trust) are to ensure your loved one is provided for financially and to protect their eligibility for governmental programs. If your loved one is enrolled in a program that is based on financial need, accepting outside income or assets from you or others may render them ineligible for their government benefits. In fact, the disabled person may even be asked to reimburse the government for money they already received.
If your loved one suffers from any of the following conditions, a special needs trust may be the most fiscally prudent option for them:
- Physical disability
- Mental illness
- Social anxiety disorder
- Psychiatric issues
- Memory loss
- Other health issues
Special Needs Trusts can help anyone who is disabled, chronically ill, or has a debilitating disease. Anyone of any age can benefit from a special needs trust created for them, as such trusts protect the assets and futures of their beneficiaries. If someone you love is on Medicaid or SSI or living in a group home, a Special Needs trust should be considered.
Contact Bratton Scott for NJ and PA Special Needs Trust Advice
Special Needs Trusts are complex documents that should be drafted by skilled, experienced lawyers. These documents must be able to stand up to scrutiny by those who may try to question them in the future.
Bratton Scott’s lawyers will review your loved one’s needs and eligibility for government financial assistance programs. We will review current statuses of all involved and advise you about ways to limit tax liability. Finally, we will expertly draft special needs trust documentation to ensure your loved one is well-protected. Helping clients in cities like Princeton, Mount Laurel, Moorestown, Voorhees, and Medford.
Contact us for a consultation with an experienced lawyer at Bratton Scott. Call 856-857-6007 or fill out our convenient online form. We have New Jersey offices in Haddonfield, Linwood, and Ewing as well as one in Philadelphia, PA.