Best Probate Attorneys in Trenton, NJ

Setting up a Special Needs Trust (SNT) for a disabled beneficiary can offer numerous benefits, providing financial security and ensuring the individual's long-term well-being. Some of the advantages of establishing a Special Needs Trust include: Preserving Eligibility for Government Assistance - Means-Tested Programs: SN Ts allow individuals with disabilities to maintain eligibility for programs like Medicaid and Supplemental Security Income (SSI) by keeping their countable assets within allowable limits. 2. Financial Security Without Jeopardizing Benefits - Assets held in a Special Needs Trust are not counted as the beneficiary's personal assets, preserving their eligibility for public benefits while providing financial support for supplemental needs. Maintaining Quality of Life - The trust can be designed to supplement the beneficiary's lifestyle by covering expenses not met by public assistance, such as education, recreational activities, and personal care. Protecting Inheritance - SN Ts protect any inheritance or gifts received by the beneficiary, ensuring that these assets do not disqualify them from receiving government benefits. Long-Term Planning - SN Ts are designed to provide for the long-term needs of the individual, considering their lifetime care requirements and adapting to changes in circumstances. Personal Injury Settlements - If the disabled individual receives a personal injury settlement, a Special Needs Trust can protect those funds from impacting eligibility...