What is a Special Needs Trust?
Unlocking the Benefits of Special Needs Trusts in Estate Planning
A special needs trust, also known as a supplemental needs trust, plays a pivotal role in estate planning, particularly when you have a family member with a disability. Discover why considering a special needs trust is crucial for securing your loved one's future and financial stability.
Why Consider a Special Needs Trust
Special needs trusts serve three significant purposes:
Types of Special Needs Trusts
There are two primary types of special needs trusts:
Need Help With a Special Needs Trust?
Need Help Getting Started on Your Estate Plan?
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Funding a Special Needs Trust
A special needs trust serves as a container for holding assets, and you can fund it when creating the trust or at any point thereafter, including through your will.
- If your primary concern is ensuring your child's well-being after your passing, you can establish the trust and direct assets to it within your will. This approach offers flexibility with your assets during your lifetime while securing your child's future.
- If your adult child is living independently or semi-independently, consider placing assets into the trust early on. Activating the trust while you're alive allows your child and the trustee to become familiar with its workings, providing additional peace of mind for your planning.
How Our Estate Planning Lawyers Can Help
Our team is dedicated to assisting you in creating a comprehensive estate plan that addresses all your family's needs. We understand that starting this process can be challenging, and we strive to make it as seamless as possible. You can use the button below to schedule a call back from a member of our team, or give us a call at 781-784-2322 for personalized guidance on securing your family's financial future.