Special Needs Trusts

A special needs trust, also referred to as a supplemental needs trust, is a particular form of trust which enables a person to appoint a trustee to hold property or assts for the benefit of your disabled child, should anything happen to you. One of the benefits of a special needs trust is that it enables you to provide for the special needs of your child while at the same time keeping him or her from being disqualified from receiving government program benefits, such as Medicaid or Social Security.

Would you like legal assistance in understanding and establishing a special needs trust? A Salt Lake estate planning attorney at the Stone Law Firm can help. We represent clients throughout Salt Lake, Provo and Ogden with estate planning and probate matters, using our legal and financial experience to provide practical solutions and effective plans for the future.

Benefits of a Special Needs Trust

There are specific benefits that a special needs trust can provide:

• The money you place in the trust will not be able to be accessed except for your child’s care
• If a lawsuit is brought against you, the money in the special needs trust cannot be touched
• Tax rates may be lower by keeping the money in a trust rather than in a regular account
• Although your child may have an extensive amount of money in his or her trust, he or she will still qualify for government financial aid (Medicaid or Social Security)
• A special needs trust can make your child’s life more rewarding and enjoyable by providing money for activities: summer camp, travel, games, and more.

If you are interested in setting up a special needs trust, contact a Salt Lake City estate planning lawyer at our firm today for the help you need!