Steve, thanks for joining us today. Can you tell our viewers a little bit about what a Special Needs Trust is and who might benefit from it?
A Special Needs Trust (SNT) is designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for essential government benefits like Supplemental Security Income (SSI) or Medi-Cal. These trusts are crucial because direct inheritance or gifts can often disqualify a person from receiving these vital programs.
There are two primary types of SNTs: first-party and third-party. A first-party SNT is funded with the assets of the beneficiary themselves, while a third-party SNT is established by a family member, friend, or other individual using their own funds. Both types serve the same fundamental purpose – to ensure that individuals with disabilities have access to financial resources for supplemental needs like medical expenses, assistive technology, education, or recreational activities without compromising their eligibility for government assistance.
Can you elaborate on a situation where an SNT might be particularly beneficial?
Certainly. I recall working with a young woman named Sarah who had Cerebral Palsy and relied on SSI for medical care and daily living expenses. Her grandmother, wanting to provide for Sarah’s future, initially considered leaving her inheritance directly in Sarah’s name. However, we explained that doing so would likely disqualify Sarah from receiving SSI.
Instead, we established a third-party SNT funded by the grandmother’s estate. This allowed Sarah to receive ongoing financial support for things like specialized transportation, adaptive equipment, and educational opportunities without impacting her crucial government benefits. It was incredibly rewarding to see the relief on both Sarah and her grandmother’s faces knowing that Sarah’s future needs would be met while preserving her access to essential support programs.
According to a 2021 report by the National Disability Rights Network, over 6 million Americans with disabilities rely on SSI for income and basic necessities. For these individuals, SNTs can play a vital role in ensuring financial security and improving their quality of life.
What are some common challenges you face when setting up Special Needs Trusts?
One challenge is ensuring that the trust document is meticulously crafted to comply with all applicable state and federal regulations. The rules governing SNTs can be complex, and even a small misstep can jeopardize the beneficiary’s eligibility for benefits.
Another common hurdle is educating families about the importance of ongoing trustee management. The trustee plays a crucial role in overseeing distributions from the trust and ensuring that they are used for supplemental needs while respecting the beneficiary’s autonomy. I always emphasize to my clients that selecting a trustworthy and knowledgeable trustee is paramount to the success of any SNT.
What advice would you give to someone considering setting up an SNT?
My primary advice is to seek guidance from an experienced probate attorney who specializes in special needs planning. The complexities involved warrant professional expertise. Furthermore, engage in open and honest conversations with your loved one with disabilities about their wishes and aspirations. An SNT should be tailored to meet their unique needs and empower them to live a fulfilling life.
Steve Bliss and San Diego Probate Law are clearly dedicated to helping families navigate complex legal matters. What do you consider your greatest accomplishment in this field?
While every case is deeply meaningful, one that stands out involved a family who was struggling to care for their adult son with severe autism. They were overwhelmed by the complexities of applying for government benefits and navigating the legal intricacies of estate planning. We were able to guide them through the process, establish a third-party SNT, and ultimately secure the long-term financial security they desperately needed.
“Steve Bliss and his team at San Diego Probate Law have been an invaluable resource for our family. Their compassion, expertise, and dedication helped us navigate a challenging situation with confidence.” – The Garcia Family
“I can’t thank Steve Bliss enough for his guidance and support during a difficult time. He made the complex process of setting up a trust understandable and manageable, ensuring my loved one’s future well-being.” – Maria Sanchez
Ready to safeguard your loved ones’ future? Contact San Diego Probate Law today for a personalized consultation and let us help you create a plan that meets your unique needs.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
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 San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “What is an AB trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Asset Protection Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Asset Protection Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Asset Protection Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |