Third Party Special Needs Trust Lawyer in CA
When you love someone with special needs, their future is always on your mind. You want to make sure they'll be okay, even when you’re not around. And that's where a tool called a Third Party Special Needs Trust comes into play. Let's discuss what it is and how it can help.
Making the Future Brighter with a Third Party Special Needs Trust
Imagine a box, where you can keep resources for your loved one with special needs. This box is actually a legal plan, called a Third party special needs trust. The good thing about this trust is that it won't change the government help that your loved one is getting, such as Medi-Cal or Supplemental Security Income. Family members or friends can set it up using their own money, not the money of the person with special needs.
How Can a Third Party Special Needs Trust Help?
A Third party special needs trust can help improve your loved one's life. Things that the government benefits can't pay for - like trips, fun activities, personal helpers, or extra medical and dental costs - the trust can cover. Best part? It won't interfere with the benefits they're getting.
Who Can Set Up This Trust?
Anyone who cares about your loved one can set up this trust - except for the person with special needs themselves. Parents or grandparents most often are the ones to set up the trust. But friends and other relatives can too. The money put in the trust doesn't count as the person's own assets, so their benefits are safe.
The Rules of a Third Party Special Needs Trust
While a Third party special needs trust may seem like a lifesaver, it does come with a specific set of guidelines. For example, funds from the trust can't be used for basic needs already covered by government aid. Moreover, the selection of the trustee, the person who oversees the trust, is a vital step. This can seem like a lot to handle, but with a knowledgeable lawyer by your side, you can handle these rules with confidence.
Why You Need a Lawyer for a Third Party Special Needs Trust in CA
Establishing a Third party special needs trust may seem like scaling a steep peak, but with the guidance of a proficient lawyer, it becomes more like a manageable incline. They can assist in formulating a trust that's customized to your loved one's needs, and offer guidance through managing it.
Interested in learning more about a Third party special needs trust? Reach out to me today at (805) 307-7713 or get in touch online for a complimentary initial strategy discussion to get the assistance you deserve.