Special needs trust attorney McKinney

Special Requirements Trust Lawyer McKinney: Securing the Future of Your Beloved Ones with Disabilities

As a guardian or caregiver of a person with a handicap, you are presumably anxious about their future. You wish to guarantee that they have the assistance and care they require, even when you cannot offer it yourself anymore. This is where a special requirements trust lawyer in McKinney can help.

What is a Special Requirements Trust?

A special requirements trust is a lawful tool that enables you to reserve funds for a person with a disability without invalidating them from government benefits like Medicaid or Social Security Disability Insurance (SSDI). These benefits are means-tested, indicating that the beneficiary must have limited revenue and assets to qualify. If a person with a handicap were to receive a large amount of money, it could disqualify them from these essential programs.

A special requirements trust lawyer in McKinney can assist you in creating a trust that ensures your loved one's future without endangering their eligibility for these programs. The trust can provide additional care, services, and amenities that government benefits do not cover, like a personal caregiver, therapy, or travel.

How Can a Special Requirements Trust Lawyer in McKinney Assist You?

Creating a special requirements trust can be a complex and detailed process. It is vital to have an experienced lawyer who understands the intricacies of the law and how it applies to your specific circumstances. Here are some ways a special requirements trust lawyer in McKinney can assist you:

Determine if a special requirements trust is necessary: Not everyone with a disability needs a special requirements trust. A trust may be unnecessary if your loved one is unlikely to receive a significant inheritance or lawsuit settlement, for instance. A special requirements trust lawyer can review your situation and advise you on whether a trust is necessary.

Choose a trustee: The trustee is accountable for managing the trust and making distributions to the beneficiary. Choosing the right trustee is crucial, as they will have significant control over your loved one's future. A special requirements trust lawyer can assist you in selecting a trustee who has the necessary skills and experience to manage the trust effectively.

Draft the trust document: The trust document is a legally binding contract that outlines how the trust will be managed and distributed. A special requirements trust lawyer can help you prepare a document that complies with Texas law and satisfies your specific needs.

Fund the trust: To be effective, a special requirements trust must be funded with assets. A special requirements trust lawyer can advise you on how to transfer assets to the trust without triggering a penalty or disqualifying your loved one from government benefits.

Conclusion

If you have a loved one with a disability, it is essential to plan for their future. A special requirements trust lawyer in McKinney can help you create a trust that provides for their needs while preserving their eligibility for government benefits. Contact Janelle Cremé, an experienced special requirements trust lawyer, to discuss your situation and explore your options.