Special Needs Trust Attorney
Estate planning can be a daunting task – especially if you have family members who have complex or special needs. If you have a special needs child, you may be worried about who will care for them when you’re no longer around. You may also be concerned about who can support them financially, or who will manage their affairs.
Although every estate is unique, one option you might consider is setting up a special needs trust. Here’s a look at how special needs trusts in California work, and how our estate planning attorneys can help.
What Is A Special Needs Trust In California?
A special needs trust is an estate planning tool. It allows disabled beneficiaries to receive their inheritance without losing their rights to special needs government benefits. These trusts will grant you the peace of mind of knowing that your disabled family member is provided for, even after you’re gone.
The two main types of special needs trusts are First Party Funded and Third Party Funded.
- First Party Funded:Set up using assets owned by the special needs individual e.g. if they win a lawsuit or damages for catastrophic injuries.
- Third Party Funded:Set up by using assets owned by someone else. An example would be a parent creating and funding a trust to provide for their special needs child.
In estate planning for special needs, trusts can be customized to suit your unique situation. At the Law Offices of Alice A. Salvo, our special needs trust lawyers can help you determine which type of trust is right for you.
Our team is familiar with the laws regarding state-based care and payment, meaning your family member won’t have to worry about losing state coverage. The special needs trusts are in place to catch what the state won’t, leaving you worry-free.
Who Can Set Up A Special Needs Trust?
Normally, a parent, grandparent, or guardian creates a special needs trust for their loved one. The court can also form a trust if required – your attorney can explain how trusts are formed in more detail.
Do I Need A Special Needs Trust Lawyer?
Trusts are complicated and if they’re not set up properly, they might have unintended consequences. For example, they might not offer your loved ones the protections that you’re hoping for. With this in mind, it’s best to consult with a special needs trust attorney before creating any estate plan, rather than trying to handle matters alone.
Special Needs Trust Attorney In Los Angeles And California
When it comes to following the letter and the rule for special needs trusts, California offers no more successful firm than Alice A. Salvo. Our special needs trust attorneys in California are reputable and knowledgeable, and we understand what matters to our clients. We’re well-versed with Medi-Cal and can set up the trust in such a way that you will never have to worry about losing state-offered coverage.
With a special needs trust, California-based disabled citizens can enjoy a more comfortable, higher quality of life. Our experienced attorneys want to help make this a reality for your family – contact us for a free first consultation.
Estate Planning And Special Needs Trusts Lawyers
A key principle of estate planning is protecting your loved ones when you’re no longer around to care for them. However, uUnderstanding the intricacies of health insurance and medical care can be confusing to say the least. Without knowing all of the ins and outs, you could potentially miss something that can cost you dearly. Having our special needs trust lawyers at your side will keep you from missing that potentially devastating fine print.
Helping a disabled family member can sometimes be a trying issue, and you may feel alone and isolated. It can be challenging to handle the medical insurance companies, medical expenses and the mountain of red tape, especially if you’re new to estate planning.
Alice A. Salvo knows what you are going through and has extensive experience with cases similar to yours. That understanding alone can mean a lot in your struggle to keep your family comfortable and safe.
Contact Our Special Needs Trust Attorneys In California
Estate planning for special needs can be simple with the right attorney at your side. Our special needs trust attorney in Los Angeles and California want to help you make the right choices for your family.