Special Needs Trusts
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Special needs trusts are designed to guarantee that an inheritance or personal injury settlement will not result in the person losing his/her government assistance. A Special Needs Trust (SNT, or Supplemental Needs Trust) can be set up for a minor, adult or senior citizen, to guarantee his/her future financial support. . These useful estate planning tools help the disabled while keeping them eligible for government benefits.
When you need sound legal advice on any kind of trust, on structured settlements and the specifics of Medicaid benefits, look to the Mommers & Colombo, Attorneys at Law, law firm for skilled support, start to finish.
Pierre A.L. Mommers is a skilled Florida estate planning lawyer who helps you to plan for the future before the future arrives. His knowledge, guidance, leadership and personal service provide the peace of mind you need – the assurance that your loved ones will be well taken care of in your absence.
Experienced Melbourne Special Needs Trust Attorney Pierre A.L. Mommers
Funds put into a special needs trust can serve to support a disabled family member, young or old, who is an heir to an estate or receives a personal injury settlement, in ways that do not disqualify them from receiving government benefits.
This discretionary trust typically falls into one of two categories: the third-party special needs trust or self-settled (first-party) special needs trust. The third-party trust is established and funded by someone other than the intended beneficiary; the self-settled trust is funded by the beneficiary and funded with his or her own assets. So, for example, if you have a loved one that is disabled, you can leave that person an inheritance without him/her losing their government benefits. And if you are in an accident and will receive a personal injury settlement, you can receive that settlement without losing your government benefits. The solution is to establish a special needs trust, also referred to as a supplemental needs trust.
Pierre A.L. Mommers can wisely advise you on any technical requirements that may need to be satisfied, along with trustee selection and the process of receiving additional public benefits such as Social Security and Medicaid.
Whether your long-range legal goal is a living trust, testamentary trust, special needs trust or supplemental needs trust – or if the time has come to administer a trust – contact Mommers & Colombo, Attorneys at Law, in Melbourne.
Mommers & Colombo, Attorneys at Law, serves clients in Florida cities such as Melbourne, Palm Bay, Cocoa, Satellite Beach, Melbourne Beach, Indian Harbour Beach, Indialantic, Suntree, Titusville and others throughout Brevard County and Indian River County.