Glendale Special Needs Trusts are often set up by parents or other family members who want to leave money to the disabled child through a last will and testament. Because many of these disabled children and young adults receive money from the government through Medicaid or supplemental incomes, money bequeathed to this individual through the will should actually be left to the trust instead of to the individual’s name.
The most basic reason for this is that supplemental incomes and Medicaid money could be lost if the disabled individual suddenly has a windfall of money. If the government sees that the individual has a large amount of cash in the bank or investment accounts, they will cut off supplemental money, believing that the individual can afford to care for himself or herself.
Benefits of Setting Up Glendale Special Needs Trusts
To get around this, families should consider setting up a Glendale special needs trust. While some try to get around the need for a lawyer to help with this, it can be difficult to set up correctly especially with a variety of state rules that must be followed for the trust to be legal and to work correctly. A special needs attorney from Newman Aaronson Vanaman Attorneys at Law can help Glendale families understand how to set up the trust, how to fund it and how to leave it to their disabled child or dependent through a will.
Once the Glendale special needs trust is set up, our attorneys can help individuals understand how to fund it, how to remove money from them and how to use them legally without stopping government benefits from reaching the individual. For example, there will need to be a trustee of the account to manage the money. The disabled child will not be able to manage this money and will not be able to receive any of the cash outright. Contact us today if you need help setting up a Glendale special needs trust.