A properly structured special needs trust can safeguard government benefits while providing supplemental funds for education, therapy, and enrichment. By working with a knowledgeable attorney, families prevent unintended disqualification, ensure seamless successor trustees, and maintain stability through life transitions.
A holistic plan protects assets while preserving eligibility for public benefits, reducing the risk of future disruption. Regular reviews ensure the strategy remains aligned with life changes, funding opportunities, and regulatory updates.
Our team combines practical experience with a collaborative approach, focusing on clear explanations, transparent timelines, and personalized strategies tailored to Timonium families. We prioritize accessibility, responsiveness, and results that protect both dignity and independence.
Ongoing management includes periodic reviews, trustee communications, and updating funding strategies as needs evolve. This ensures the plan remains effective over time and across life events.
A Special Needs Trust (SNT) is a legal arrangement that holds assets for a beneficiary without disqualifying them from essential government benefits. It allows supplemental support while preserving benefits the person relies on. The trust is managed by a fiduciary who administers distributions according to defined rules and the beneficiary’s evolving needs. Two important considerations are funding and governance to ensure ongoing compliance.
A trustee should be someone trusted, organized, and capable of handling financial duties. This could be a family member, a professional fiduciary, or a trusted friend with support from the care team. The chosen trustee must communicate clearly, document decisions, and coordinate with caregivers to protect the beneficiary’s interests.
A properly drafted SNT is designed to preserve eligibility for SSI and Medicaid by excluding countable assets. However, beneficiaries and families should review the trust terms with counsel to ensure distributions do not inadvertently affect benefits. Regular coordination with benefits specialists helps prevent unintended consequences.
Costs vary by complexity and funding needs, but typical upfront planning fees cover consultation, drafting, and document review. Ongoing costs may include annual trustee oversight, tax filings, and periodic plan updates. We provide transparent estimates and work to align costs with the family’s budget and goals.
The timeline depends on the complexity of the plan and funding options. A straightforward setup can take several weeks, while more comprehensive plans with multiple issues may require a few months. We guide families through each milestone, keeping steps clear and scheduling realistic.
A Special Needs Trust can be amended or terminated in many cases, though requirements vary by trust type and funding. Amendments typically involve addendum documents and trustee approval. Termination may trigger distributions or asset absence rules, so it is important to consult counsel before making changes.
When selecting a guardian or trustee, consider reliability, accessibility, financial acumen, and willingness to collaborate with care providers. It helps to choose someone who shares your family’s values and can communicate effectively with siblings, caregivers, and professionals involved in the plan.
ABLE accounts and Special Needs Trusts can complement each other. An ABLE account provides tax-advantaged savings for disability-related expenses, while an SNT offers broader protections and distributions for specific needs. We assess your situation to determine how best to combine these tools.
Ongoing maintenance includes annual reviews, trustee communications, and updates for changes in beneficiary needs or law. Regular monitoring ensures distributions remain appropriate, benefits stay protected, and the plan continues to reflect the family’s goals.
To begin, contact our Timonium office for an initial consultation. We will discuss your goals, explain options, and outline a personalized plan. If you decide to proceed, we guide you through document preparation, funding, and final implementation, with ongoing support available as needed.
