Creating a special needs trust protects a loved one’s independence while ensuring essential resources remain available. Benefits include asset protection from guardianship actions, enhanced control over discretionary funds, and smoother transitions if a caregiver changes. A well designed trust coordinates with Medicaid, SSI, and other supports to maximize quality of life.
A comprehensive approach offers greater flexibility in how funds are used to support daily needs, therapies, and meaningful experiences while protecting eligibility for benefits.
Choosing our firm means working with attorneys who understand North Carolina law, local resources, and how to coordinate trust planning with health care and daily care.
Our team remains available for questions, document updates, and coordination with caregivers, trustees, and financial professionals as circumstances evolve.
A Special Needs Trust is a plan that helps protect eligibility for public benefits while providing funds for enhanced supports. It is typically funded with assets from family members or other sources to supplement care without disqualifying essential programs. If you have a loved one who relies on government assistance, a trust can be a thoughtful way to plan for the future. In Graham, careful design and local guidance ensure compliance with North Carolina and federal rules.
Yes, when properly drafted, a Special Needs Trust is designed to preserve eligibility for programs like SSI and Medicaid. It separates assets from the beneficiary’s countable resources, allowing funds to be spent on approved costs without jeopardizing essential benefits. Ongoing coordination with our team helps maintain compliance as programs or personal circumstances change.
The trustee should be someone trusted to manage funds according to the grantor’s instructions. Common choices include a family member, a local attorney, or a professional fiduciary. Responsibilities include managing distributions, keeping records, communicating with beneficiaries, and coordinating with public benefits to avoid disqualification.
Funding can come from cash gifts, inheritances, life insurance proceeds, or other assets transferred into the trust. Assets placed in the trust are used for supplemental needs such as therapy, education, transportation, and enrichment activities, while preserving eligibility for public benefits.
A revocable trust can be altered or canceled during the grantor’s lifetime, while an irrevocable trust generally cannot be changed easily. For Special Needs Trusts, irrevocability can protect assets and benefits more effectively, but each option has implications for control, taxes, and future planning.
Yes. A Special Needs Trust can be integrated with a broader estate plan, including wills, powers of attorney, and guardianship planning. This holistic approach ensures consistency across documents and helps families coordinate long term care with financial and legal objectives.
We recommend a comprehensive review at least annually or after major life events such as a change in diagnosis, guardianship, relocation, or changes in benefit programs. Regular reviews help keep the plan aligned with current laws, assets, and family goals.
Costs vary by complexity, but you can expect attorney fees for drafting and setup, plus potential ongoing support or trustee assistance. We provide clear estimates up front and offer options for ongoing reviews to keep the plan current and effective.
Bring information about the beneficiary, current benefits, asset lists, family goals, and any caregiver or financial contacts. Photographs, letters, or notes about preferences can also help tailor the trust to your loved one’s needs and values.
The timeline depends on complexity and funding. Planning can begin in weeks, with documents drafted and funding completed over subsequent weeks. We aim to move at a steady pace, ensuring accuracy and compliance at every step.
