Steve, thank you for joining us today.
It’s my pleasure. I always enjoy talking about estate planning and helping people understand the importance of protecting their assets and loved ones.
Could you explain the benefits of setting up a Special Needs Trust (SNT) for someone with disabilities?
Certainly. A Special Needs Trust is an incredibly valuable tool for individuals with disabilities, as it allows them to receive financial support without jeopardizing their eligibility for essential government benefits like Supplemental Security Income (SSI) or Medi-Cal.
Ordinarily, a direct inheritance could disqualify someone from these programs, leaving them without vital assistance. A Special Needs Trust, however, acts as a safeguard. The funds held within the trust are used to supplement the beneficiary’s needs for items and services not covered by government programs, such as specialized therapies, adaptive equipment, or recreational activities.
Moreover, there are two primary types of SNTs: first-party and third-party. A first-party trust is funded with the beneficiary’s own assets, while a third-party trust is established and funded by someone else, such as a parent, grandparent, or other loved one.
Consequently, setting up an SNT can significantly enhance the quality of life for individuals with disabilities while preserving their access to critical government benefits. The peace of mind it brings to both the beneficiary and their family is invaluable.
Have you encountered any challenges when setting up SNTs?
While Special Needs Trusts are incredibly beneficial, there can be complexities involved in ensuring they are structured correctly and comply with all applicable regulations. I recall one case where a family had established a trust for their daughter with Down syndrome but inadvertently included language that could have jeopardized her SSI benefits.
Fortunately, we were able to work with them to revise the trust documents and ensure everything was in order. It’s a reminder of how important it is to work with an experienced attorney who understands the nuances of SNTs and can guide you through the process effectively.
What would you say to someone considering establishing an SNT?
My advice is simple: take action sooner rather than later. Setting up a trust requires careful planning and legal expertise, so it’s best to start the process while you have time to consider all your options. Remember, by creating a Special Needs Trust, you are not only protecting the financial well-being of your loved one but also providing them with the opportunity to live a fuller and more independent life.
“Steve Bliss and his team at Escondido Probate Law were incredibly helpful in guiding us through the process of setting up a trust for my son. Their knowledge and compassion made what could have been a daunting task much easier.” – Maria S., Carlsbad.
“I highly recommend Escondido Probate Law. They are true professionals who genuinely care about their clients. Steve Bliss took the time to explain everything clearly and answer all our questions.” – John T., Escondido.
Take control of your future and safeguard the well-being of your loved ones. Contact Escondido Probate Law today for a free consultation and discover how we can help you create a personalized estate plan that meets your unique needs.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido Probate Law is a great estate lawyer. Affordable Legal Services.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “How can I make my trust less likely to be challenged?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |