There are two primary types of special needs trusts: first-party and third-party, which are designed to assist individuals with disabilities in preserving public benefits when there is additional money available. First-party SNTs utilize the beneficiary’s own assets, typically from a settlement or inheritance. Third-party special needs trusts hold money from somebody else, such as [...]
Key Takeaways Selecting the best attorney for your special needs trust in 2025 Attorneys need to have a profound understanding not only of federal law, but California-specific laws. Detailed local knowledge is crucial for impactful planning and successful compliance! Inquire of your prospective attorneys about their firsthand experience in special needs trusts. Ensure that [...]
Key Takeaways Start special needs trust planning right after a disability is diagnosed. This step taken in advance ensures that their hard-earned eligibility for critical government benefits such as Medicaid and SSI are preserved. Early and proactive planning allows families to address financial needs, avoid costly mistakes, and secure long-term stability for the beneficiary. [...]