Supplemental Needs Trust Attorney in Chandler
The Lawler Group is dedicated to providing expert legal services in supplemental needs trust matters. As your trusted Supplemental Needs Trust Attorney in Chandler, Arizona, we are committed to guiding you through the entire process with professionalism and care.
Your Trusted Special Needs Lawyer in Chandler
Choosing The Lawler Group means choosing a team of experienced attorneys specializing in special needs trusts. Our special needs trust attorneys are dedicated to offering personalized and efficient legal solutions tailored to your specific needs.
What is a Supplemental Needs Trust and how can the Lawler Group help?
Special Needs Trust (SNT) in Chandler, AZ, is a legal arrangement designed to provide financial support and protect the assets of a person with disabilities without jeopardizing their eligibility for government benefits such as Medicaid and Supplemental Security Income (SSI).
Here’s what it means to have a Special Needs Trust in Chandler:
Key Features of a Special Needs Trust
Purpose
The primary purpose of an SNT is to ensure that individuals with disabilities have the resources they need to enhance their quality of life while preserving their eligibility for public assistance programs.
Types of Special Needs Trusts
First-Party Special Needs Trust: Funded with assets belonging to the person with disabilities (e.g., inheritance or personal injury settlements).
Third-Party Special Needs Trust: Funded with assets from someone other than someone with disabilities (e.g., parents, grandparents).
Pooled Trust: Managed by a non-profit organization, pooling resources from multiple beneficiaries while maintaining separate accounts for each individual.
Trustee
The trustee is responsible for managing the trust assets and distributing funds according to the trust’s terms and the beneficiary’s needs. The trustee can be a family member, a professional trustee, or a non-profit organization.
Benefits of a Special Needs Trust
Maintains Eligibility for Government Benefits: An SNT allows individuals with disabilities to receive financial support without disqualifying them from means-tested government benefits like Medicaid and SSI.
Enhanced Quality of Life: Funds from the trust can be used for expenses not covered by government benefits, such as education, therapy, recreation, travel, and personal care, thereby improving the beneficiary’s quality of life.
Protection of Assets: The trust protects the beneficiary’s assets from being depleted or mismanaged. It ensures that the funds are used for the intended purpose and are not subject to creditors’ claims.
Professional Management: If a professional trustee or a non-profit organization manages the trust, it ensures expert handling of the funds and compliance with all legal requirements, reducing the burden on family members.
Setting Up a Special Needs Trust with The Lawler Group
Consultation with an Attorney: Working with an attorney specializing in special needs planning is crucial to ensure the trust is set up correctly and complies with Arizona state laws.
Drafting the Trust Document: The Lawler Group will draft the trust document, outlining how the trust will be funded and managed and how the funds will be used to benefit the individual with disabilities.
Funding the Trust: The trust can be funded with various assets, including cash, property, investments, and insurance policies. The funding source depends on the type of SNT being established.
Appointing a Trustee: Selecting a trustworthy and capable trustee is crucial for effectively managing the trust. The trustee must understand the beneficiary’s needs and be knowledgeable about the regulations governing special needs trusts.
Conclusion
Having a Special Needs Trust provides a secure and efficient way to support individuals with disabilities. It ensures they have the necessary resources to lead a fulfilling life without risking their eligibility for essential government benefits. Working with a knowledgeable attorney can help families navigate the complexities of setting up and managing an SNT.
Contact The Lawler Group Today
Choosing The Lawler Group means choosing a team of experienced attorneys who specialize in supplemental needs trusts. Our special needs trust attorneys in Chandler are dedicated to offering personalized and efficient legal solutions tailored to your specific needs.
Connect with Us
Phone: (480) 339-0181