These trusts help preserve access to essential benefits like Medicaid and Supplemental Security Income while providing funds for therapy, education, housing, and recreational activities. By separating government benefits from personal assets, families can maintain a stable safety net, reduce risk of disqualification, and preserve financial independence for the beneficiary.
Enhanced protection of benefits combined with structured governance provides clarity for families and reduces the risk of unintended disqualification. This combination supports stable care planning and predictable administration for years to come.
Choosing us means you work with a team that prioritizes clarity, practicality, and respect for your family’s priorities. We guide you through each step, from initial consultation to final execution and ongoing reviews.
Part two addresses post-execution matters, including beneficiary communication, trustee handover, and annual reviews to adjust for life changes. We outline responsibilities to ensure clarity and compliance.
A Special Needs Trust is a protective instrument that holds assets for a beneficiary with a disability without disqualifying them from essential benefits. It is funded with money separate from the beneficiary’s own resources and is governed by specific rules set in the trust documents.\nSetting up a trust typically involves choosing a trustee, identifying funding sources, and outlining permissible uses. Our team guides you through each step, ensuring compliance with state and federal laws while preserving assets for the beneficiary’s support.
The trustee should be someone trusted with finances and responsibilities for caregiving. Common choices include family members, a trusted friend, or a professional fiduciary. The key is reliability, good communication, and an understanding of the beneficiary’s needs.\nWe help you weigh options, draft governance provisions, and set up successor trustees so planning continues smoothly when life events occur.
A properly drafted special needs trust preserves eligibility for programs like Medicaid and SSI, but it does not change the fundamental rules. Funds are used for qualified expenses and distributions are managed by the trustee under the trust terms.\nThis ensures the beneficiary continues to receive essential supports while providing continuity and control for caregivers and family.
Funding methods vary: contributions from family savings, life insurance proceeds, or assets transferred from an irrevocable or revocable trust. The goal is to fund the trust without compromising eligibility.\nWe tailor strategies to your financial situation, considering timing and tax implications and ensuring transfers comply with payback rules and distribution guidelines.
Most trusts are irrevocable, with revocation allowed only under specific conditions defined in the document. In many cases, changes require consent of the trustee and possibly court approval.\nWe explain options and help you decide whether revocation or amendment best serves the beneficiary’s long-term needs, with clear guidance to reduce uncertainty and ensure legality.
When benefits rules change, a trustee must adapt within the trust’s restrictions. Ongoing reviews and updates help keep the plan compliant while continuing to meet the beneficiary’s needs.\nOur firm provides legislative updates, recommends amendments, and coordinates with funding parties to ensure adjustments occur smoothly and without disruption.
Set-up times vary with complexity, but most straightforward trusts are ready within a few weeks. Larger plans or court approvals can extend that timeline.\nWe keep clients informed at every stage, outlining milestones and any documents needed so there are no surprises, with efficient coordination to expedite completion.
Maryland-specific trusts address state statutes and benefit rules. While many principles are universal, local nuances matter for eligibility and tax treatment.\nOur team ensures the plan aligns with Maryland law, while coordinating with federal programs to protect benefits and maintain flexibility for future changes.
Moving to another state can impact how your trust is treated, with different rules for funding and spend-down or payback.\nWe help evaluate requirements and plan transitions, guiding amendments, asset transfers, and trustee updates to preserve protections during the move.
Costs vary by plan complexity, attorney preparation, and required court filings. We provide transparent estimates and explain what each service entails so you can plan confidently.\nThere are often options to match budgets, with ongoing reviews and updates available for modest periodic fees to sustain protection.
