Key benefits include protecting government benefits, planning for long-term care, preserving assets for a disabled beneficiary, and providing control over how funds are used. These arrangements help families meet care needs while maintaining eligibility for essential programs. Clear planning reduces stress and clarifies roles for caregivers and professionals.
Defined goals, explicit spend-down plans, and regular reviews help ensure funds improve quality of life while preserving eligibility for essential programs.
Local experience matters. Our firm understands North Carolina law, state agencies, and the nuances of plain-language planning that aligns with family goals and budgets.
Establishing distribution guidelines, reporting, and periodic plan reviews.
A Special Needs Trust is designed to preserve assets for a beneficiary with a disability while preserving eligibility for needs-based government programs. It allows for supplemental expenditures that improve quality of life without disqualifying essential benefits. Beneficiaries can still receive care and support from Medicaid and SSI as appropriate when structured correctly.
A properly drafted trust ensures assets are spent in a way that complies with program rules, avoiding penalties or benefit interruptions. When funded and administered correctly, the trust can protect eligibility while providing funds for therapies, equipment, and supportive services that programs do not fully cover.
A trustee should be someone reliable, financially responsible, and capable of following complex rules. Many families choose a professional trustee or a trusted family member who understands the beneficiary’s needs. Clear duties and reporting expectations help prevent conflicts and ensure smooth administration.
Costs include legal drafting, funding the trust, trustee fees, and annual or biannual reviews. While there are ongoing expenses, a well-structured trust can save money over time by protecting benefits and avoiding unintended disqualifications that could arise from improper asset management.
Funding the trust requires careful coordination with asset ownership, beneficiary status, and benefit rules. We help align wills, trusts, and beneficiary designations so that assets flow into the trust properly without harming eligibility.
If the beneficiary passes away, remaining trust assets may be used for qualified expenses or may be directed to alternate beneficiaries per the trust terms, subject to Medicaid payback provisions and applicable law. Planning anticipates these outcomes to reduce surprises.
Bring proof of your loved one’s disability, current government benefit notices, asset lists, guardianship documents, and any existing trusts. Having personal goals and care plans helps us tailor a strategy that fits your family’s needs.
