Special Needs Trusts protect eligibility for Medicaid and Supplemental Security Income while enabling families to cover care, housing, and education. They also offer structured distributions, professional stewardship, and long-term continuity that reduces caregiver stress. By starting early, Wrightsville Beach families can adapt plans as needs change.
A single, cohesive plan minimizes conflicts between documents and ensures that funding, distributions, and care goals remain aligned. Consistency reduces confusion for caregivers and supports reliable administration over time.
Hatcher Legal, PLLC brings a comprehensive approach to estate planning and special needs planning, focusing on client education, transparent communication, and practical solutions. We tailor strategies to each family’s unique situation, ensuring compliance with North Carolina law and sensitivity to individual needs.
Ongoing administration includes periodic reviews, asset management, beneficiary communications, and updates to reflect changes in law or family circumstances. We provide ongoing support to keep the plan robust and aligned with goals.
A Special Needs Trust is a safeguard that allows a beneficiary to receive financial support without jeopardizing eligibility for essential government benefits. It ensures funds are used for approved expenses, such as medical care, housing, and enrichment activities, with a trustee overseeing prudent management. The decision to pursue a trust often follows discussions with family and an attorney about long-term care goals. It offers peace of mind for caregivers and loved ones.
Medicaid and SSI eligibility can be affected by asset ownership. A properly drafted trust keeps assets out of direct count, allowing the beneficiary to receive supplemental funds for care without losing benefits. Ongoing coordination with program rules is essential to maintain eligibility, and we help families navigate these complex requirements.
A trustee can be a family member, a trusted friend, a professional fiduciary, or a financial institution. The right choice balances availability, responsibility, and expertise. We help evaluate options, discuss duties, and establish clear guidelines for administration, reporting, and decision-making to ensure dependable stewardship.
Costs involve initial drafting, potential updates, and ongoing administration. While every case is different, investing in proper planning reduces risk of mistakes that could threaten benefits. We provide transparent estimates, explain required fees, and help you plan for long-term costs in a way that supports the beneficiary.
Upon the beneficiary’s death, many first-party trusts require payback to Medicaid for services provided. Third-party trusts typically do not have this obligation, allowing remaining assets to pass according to the trust terms. We review structure options and implications to align with family wishes and benefit considerations.
Yes. An inheritance or settlement can fund a first-party or hybrid trust, but careful planning is required to preserve ongoing benefits. We analyze eligibility, payback obligations, and timing to integrate the funds without triggering unintended consequences.
Reviews are recommended whenever there are changes in health, finances, or benefits rules. Regular updates help maintain compliance, reflect evolving goals, and ensure the trust remains effective as circumstances shift. Scheduling annual or semi-annual check-ins is a prudent practice.
A third-party SNT is funded with someone else’s assets and typically does not require payback. A first-party SNT uses the beneficiary’s funds and may have Medicaid payback requirements. Each type serves different family goals and asset situations, and we tailor guidance accordingly.
ABLE accounts offer specific tax-advantaged savings for disability-related expenses. They can complement a trust but must be coordinated to avoid compromising benefits. We help families plan how to use both tools effectively without triggering disqualification rules.
Timeline varies with complexity, including document drafting, trustee selection, and funding. A typical path progresses from consultation to design, approval, and funding within several weeks to a few months. We provide a clear roadmap, so families know what to expect at each stage.
