California Special Needs Trust Lawyer
An Estate Planning Attorney Helping Individuals with Special Needs throughout Orange and Los Angeles Counties
Living with a physical or mental disability in the United States can be incredibly expensive, and the cost of care can be millions of dollars over the course of a person’s life. As a result, without access to government benefits such as Medicaid or Supplemental Security Income, a disabled person’s assets can be wiped out in a matter of years.
These programs typically have very low asset limits, meaning that many people with even relatively low income or assets can be disqualified, forcing them to potentially pay for care out of pocket. This is particularly concerning for disabled people who stand to inherit assets from their families or obtain a windfall through a significant personal injury settlement.
Special Needs Trusts can Protect Disabled Individual’s Assets
Fortunately, special needs trusts can help people protect their assets while maintaining eligibility for government benefits. In California, you can establish either a first-party special needs trust or a third-party special needs trust depending on the source of the trust assets. Assets in a special needs trust can be used to pay for:
- Medical care not covered by public benefits
- A vehicle
- A home
- Home furnishings
Importantly, using trust assets for certain things may affect benefit payments. For this reason, you should always consult with an experienced special needs trust lawyer if any questions arise.
Call Brasov Law Today to Learn More about Special Needs Trusts in California
Special needs trusts are an extremely versatile estate planning tool that can help preserve assets while maintaining a person’s eligibility for government benefits. If you believe that you or a family member could benefit from a special needs trust, you should speak to an attorney as soon as you can. To schedule a consultation with an attorney to help you form a California Special Needs Trust, call 562.485.4850.