Choosing this service helps families navigate complex eligibility requirements, avoid unintended disqualification from benefits, and control asset use. A trust can shelter resources for a beneficiary with disabilities, support family planning, and streamline guardianship arrangements. Proper drafting reduces future disputes and ensures smooth successor management.
Improved protection of benefits through careful asset planning and compliant distributions, ensuring the beneficiary continues to receive essential supports while accessing needed funds for education, healthcare, and daily living expenses.
Hatcher Legal, PLLC brings years of experience in estate planning and probate, with a focus on empowering families to make informed decisions. We emphasize transparent communication, thorough document preparation, and strategies that align with clients’ values and care plans in North Carolina.
Ongoing administration includes distributions, reporting to beneficiaries, and coordination with care providers. Regular reviews help adapt to life changes and ensure continued alignment with beneficiaries’ needs.
A Special Needs Trust is a planning tool designed to supplement, not replace, public benefits for someone with a disability. It allows funds to be used for approved needs while protecting eligibility for programs like Medicaid and SSI. Proper setup ensures resources are available for healthcare, education, and daily living.
Yes, a properly drafted trust helps preserve eligibility for means-tested benefits by separating trust assets from the beneficiary’s own resources. Missteps can affect benefits, so careful drafting and ongoing compliance are essential. Ongoing oversight ensures distributions align with program rules and care plans.
The trustee should be someone trustworthy, financially responsible, and capable of managing distributions. Often families choose a relative or a professional fiduciary. It is important to discuss duties, compensation, and potential conflicts of interest before naming a trustee.
Documents typically include the trust agreement, funding instructions, a letter of intent describing the beneficiary’s needs, and guardianship or powers of attorney if applicable. You may also need financial statements, beneficiary information, and contact details for caregivers and professionals involved.
Funding can occur through initial transfers and future additions. A plan can designate specific assets or sources for funding. We review tax implications, Medicaid exposure, and timing to ensure seamless updates and continued benefit eligibility as circumstances evolve.
The timeline varies with complexity and funding; typical consultations, drafting, reviews, and funding can span several weeks to a few months. We coordinate with you and other professionals to keep the process moving while addressing questions promptly.
Costs depend on the scope, attorney time, and complexity. We provide transparent estimates up front and discuss potential additional expenses such as funding and administrative services. Our goal is to deliver clear value and lasting protection for the beneficiary.
We offer ongoing reviews, updates, and coordination with care teams. After establishment, you can expect periodic check-ins, documentation updates, and assistance with changes in funding, guardianship, or beneficiary needs to ensure continued effectiveness.
