An Introduction to Special Needs Trusts

For families caring for a loved one with special needs, planning for the future often means balancing two important goals: providing financial support while preserving access to essential government benefits.

At The Lansky Law Firm, we work with families throughout the Memphis area to create estate plans that address the unique challenges that can arise when planning for a loved one with disabilities. One of the most effective tools available is a special needs trust.

Providing Support Without Jeopardizing Benefits

Many individuals with disabilities rely on government assistance programs such as Supplemental Security Income (SSI) and Medicaid. These programs can provide vital support, but they also have strict financial eligibility requirements.

A properly drafted special needs trust allows family members to set aside assets for a loved one's benefit without interfering with eligibility for these programs. Trust funds can often be used to pay for expenses that enhance quality of life, including:

• Medical treatments and therapies not covered by benefits

• Personal care and companion services

• Travel and recreation

• Technology and adaptive equipment

• Educational opportunities

• Internet and communication services

• Other supplemental needs that support independence and well-being

These resources can help provide comfort, enrichment, and opportunities that might not otherwise be available through government assistance programs alone.

In some situations, families may also consider coordinating a special needs trust with an ABLE account to provide additional flexibility while preserving eligibility for certain benefits.

Looking Beyond Financial Planning

While protecting benefits is important, comprehensive planning involves much more than finances. Families should also consider future housing arrangements, caregiving support, healthcare decision- making, and documenting important personal preferences and routines that can help ensure continuity of care throughout a loved one's lifetime.

Government benefit programs can be complex and subject to change. An improperly structured trust could unintentionally affect eligibility for important benefits, making careful planning essential.

Planning for Long-Term Security

The needs of a loved one with special needs often evolve over time. Likewise, family circumstances and financial situations can change. A thoughtfully designed estate plan should provide flexibility while continuing to protect the beneficiary's long-term interests.

At The Lansky Law Firm, we help families develop customized planning strategies that provide financial security, preserve benefits, and create a roadmap for future care and support.

Take the Next Step

If you have a loved one with special needs, proactive planning can help ensure they have the resources and support they need for years to come.

The Lansky Law Firm

6800 Poplar Ave #225

Memphis, TN 38138

Call (901) 767-7006 or visit www.lanskylawfirm.com to learn more or schedule a consultation.