623-748-4890
Lincoln & Wenk, PLLC
View Blog Navigation

Review of special needs trusts

Many residents of Phoenix may have one or more loved ones with special needs. Oftentimes, those with special needs must rely on government benefits and other programs in order to be able to support themselves and receive proper care. These programs frequently have income and asset caps on eligibility, as they are intended for those of limited means. This can put Arizona residents in a bind since they want to give a gift or an inheritance to their family members, but doing so could ultimately harm the recipient financially if it disqualifies that person from important benefits.

The idea behind a special needs trust is that the inheritance or gift will be placed under control of the trustee, who can only distribute it either to or on behalf of the disabled person and in specified circumstances. The fact that the trustee retains the control over the property means that, in most cases, it will not factor into a person's eligibility for benefits. As a side bonus, the funds are also outside of the reach of the disabled person's creditors.

Even families who have no current plans to seek out government benefits for a disabled loved one can still benefit from a special needs trust. For one, plans can easily change along with a family's financial circumstances. Moreover, the special needs trust is still a convenient vehicle for making sure that a family can help their loved one meet medical and other expenses associated with the disability.

Properly preparing and drafting a special needs trust can be complicated. Moreover, an ineffective special needs trust can cause major issues, including the loss of government benefits. It is important to understand the right legal approach.

No Comments

Leave a comment
Comment Information
  • Super Lawyers
  • 2015 ARAG | Elite Service Provider
  • AV | Peer Review Rated for Ethical Standards & Legal Ability | Preeminent | Martindale-Hubbell from LexisNexis
  • American Association for Justice | Formerly the Association of Trial Lawyers of America (ATLA)
  • Arizona Association of Family Law Attorneys - AZAFLA
  • Lincoln & Wenk, PLLC BBB Business Review
  • Association of Top 100 2019 | American Trial Lawyers
  • American Academy Of Trial Attorneys | AATA | Premier 100 | 2015
  • Family Law | Top 10 | Attorney And Practice Magazine's | 2018 | Attorney
  • Top Valley Lawyers 2017 | North Valley Magazine
  • American Institute of Family Law Attorneys | 10 Best 2017-2018
  • Veteran Owned Business - A Registered Vetrepreneur on Buyveteran.com - 2014
  • Avvo Top Attorney
  • Avvo Client's Choice
Email Us For A Response

Need legal help from an attorney?
Contact us now to schedule a consultation with our lawyers

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Goodyear Office:
1616 North Litchfield Road
Suite 140
Goodyear, AZ 85395

Phone: 623-748-4890
Fax: 623-536-1984
Goodyear Law Office Map

Peoria Office:
16165 N. 83rd Avenue
Suite 200
Peoria, AZ 85381

Phone: 623-748-4890
Fax: 623-536-1984
Map & Directions

Phoenix - Desert Ridge Office:
20830 N. Tatum Blvd
Suite 210
Phoenix, AZ 85050

Phone: 623-748-4890
Fax: 623-536-1984
Phoenix Law Office Map