Establishing a Special Needs Trust safeguards assets while preserving access to essential supports. These trusts can reduce risk of losing government benefits due to inheritance or settlements, provide for ongoing care, and coordinate with guardianship or family initiatives. For families in Dare County and Buxton, a properly drafted trust supports stability and future planning.
A well-structured plan provides sustainable management of assets, with a trustee and professional advisors guiding distributions to fulfill ongoing needs without compromising eligibility for Medicaid or SSI.
Hatcher Legal, PLLC brings practical experience in North Carolina estate planning and probate, with a focus on families navigating special needs. We aim to deliver thoughtful, accountable guidance, clear drafting, and coordinated support across financial and care planning disciplines.
Regular reviews help identify changes in laws or benefits that could affect the trust. We adjust terms and strategies accordingly to maintain benefits while continuing to deliver supplemental support.
A Special Needs Trust is a legal instrument designed to supplement, not replace, government benefits for a beneficiary with disabilities. In North Carolina, an SNT allows resources to be used for additional goods and services without disqualifying eligibility for programs like Medicaid or SSI. It requires careful drafting to ensure compliance and optimal outcomes for the beneficiary.
Generally, properly funded SNTs protect eligibility for Medicaid and SSI by keeping assets within permitted limits. Distinct trust terms specify allowable distributions, ensuring funds supplement rather than substitute for public benefits. Coordination with benefits programs and careful trustee oversight help maintain stability for the beneficiary’s needs.
A trusted individual, or professional fiduciary, should serve as trustee. This person must follow the trust terms, manage investments, and monitor distributions to support the beneficiary’s needs while preserving benefits. Family members often choose someone with strong communication skills and reliability to fulfill this role.
Funding should align with anticipated needs and future care costs. Some plans fund gradually over time, while others fund upfront. Timing matters for tax and benefit considerations, so it’s important to coordinate funding with legal and financial advisors to maximize protective effects without jeopardizing eligibility.
Yes. A trust can be amended to reflect changes in family circumstances, beneficiary needs, or laws. Depending on the trust’s terms, amendments may require a formal process, including trustee or court involvement. Regular reviews with your attorney help ensure the plan remains aligned with goals and protections.
Costs include attorney fees for drafting and updates, and ongoing administrative costs for trustee management. Budgeting for periodic reviews helps ensure the plan remains current with evolving rules. Our firm provides transparent, itemized pricing and guidance on value-added services to support your goals.
Guardianship and SNTs serve different purposes but can complement one another. An SNT protects assets and benefits, while guardianship addresses decision-making when a beneficiary cannot manage personal or financial affairs. Proper planning coordinates both tools to support care and independence.
Tax considerations vary with trust structure and funding sources. In many cases, trusts are designed to minimize taxes while preserving benefits. We help clients understand potential tax implications and work with CPAs to optimize overall planning strategy.
When multiple beneficiaries have disabilities, it’s important to tailor each trust to its beneficiary while avoiding cross-effects on benefits. Separate trusts or carefully drafted provisions within a single trust can address distinct needs, ensuring fair treatment and compliant distributions.
To start with Hatcher Legal, PLLC in Buxton, contact us for an initial consultation. We will review your situation, explain options, and outline next steps. From there, we’ll guide you through drafting, execution, and ongoing support to implement a durable plan for your family.
