Manes & Weinberg, LLC is experienced in drafting both first-party and third-party special needs trusts.

Third-party special needs trust

A third-party special needs trust is typically funded by family members or friends and plays an essential role in overall estate planning for families with a special needs individual. This type of trust ensures that your loved one is cared for after your passing, allowing you to leave assets specifically designated for their benefit. It also helps safeguard their eligibility for means tested government assistance while providing them additional resources that enhance their quality of life.

First-party special needs trust

In contrast, a first-party special needs trust is essential if your loved one receives a settlement or inheritance or directly owns other funds. This type of trust allows those assets to be managed in a way that preserves the availability of crucial means tested government benefits, such as Medicaid and Supplemental Security Income (SSI). By placing funds in a first-party special needs trust, your loved one’s quality of life can be supported without jeopardizing their eligibility for public assistance.

Establishing the appropriate special needs trusts that align with your family’s goals

We understand the complexities and sensitivities involved in planning for individuals with special needs. Our experienced attorneys will guide you through the process of establishing the appropriate special needs trusts that align with your family’s goals and your loved one’s unique circumstances. We will help you navigate the complexities to comply with the applicable legal requirements.

Taking these steps not only secures your loved one’s future but also provides peace of mind for your entire family. Contact us today to help you navigate the important process of special needs planning with compassion and understanding.