Protect Loved Ones With A Special Needs Trust
Caring for a family member with disabilities can be emotionally, physically and financially taxing. Many families in Michigan depend on government benefits and services to relieve some of the stress. Creating a special needs trust can preserve your loved one’s eligibility for benefits, as well as provide for their long-term needs and care.
The attorneys at Marrs & Terry, PLLC, can help you establish a special needs trust customized to your loved one’s specific needs. Our attorneys have decades of experience helping families in the Ann Arbor area plan for the future and protect their personal and financial interests. It is our goal to help you protect and provide for your family.
The Benefits Of A Special Needs Trust
Many individuals with disabilities rely upon government benefits and programs. However, eligibility for these programs is based on very low income levels. Establishing a special needs trust allows you to financially provide for a loved one without placing assets directly in his or her name and without jeopardizing your loved one’s access to government benefits.
With a special needs trust, you can manage and maintain control over trust assets while caring for your family member. Trust assets can be used to account for:
- Medical expenses, including dental and vision care
- Physical therapies or rehabilitation programs
- Essential needs, including food and clothing
- Necessary equipment that assists the individual
- Insurance costs
- Education tuition or training
Like any estate planning document, customization is crucial, and it is important to work with an experienced estate planning attorney to ensure that a special needs trust accomplishes your goals. Our lawyers can help you protect trust assets from tax consequences, unethical trustees and predatory family members. Even more importantly, we help bring families peace of mind, as well as help them provide for their children and loved ones with special needs.