Preserving Benefits Through Special Needs Trusts And Supplemental Needs Trusts
Acquiring income from an inheritance or a legal settlement can be a blessing. However, if you are receiving public benefits, such as TennCare or SSI, receiving such money or property can disqualify you from your much-needed public benefits. If you are a recipient of public benefits or have a loved one who is, let us help you protect these benefits by the use of a special needs trust or supplemental needs trust.
How Can You Keep Your Assets While Still Collecting Government Disability Benefits?
At the office of Mark E. Tillery, Attorney at Law, we focus on elder law and estate planning issues that pertain to asset preservation and wealth management. We take a strategic approach that goes beyond simple wills, powers of attorney and health care directives.
- Third-party supplemental needs trusts: When you have a child with special needs, you have likely considered what would happen to them if something were to happen to you. Any inheritance he or she receives from you or a loved one could render him or her ineligible for government benefits. By placing assets into a supplemental needs trust that is managed by a trustee, you can have the peace of mind knowing that they can retain access to government benefits even after you are gone.
- Self-settled special needs trust: If you are receiving public benefits, your legal settlement or inheritance may disqualify you for continuation of these government benefits. Let us help you place these assets into a trust so they can be distributed in a manner that retains your access to government benefits.
A Lawyer Who Knows You Personally
By working one-on-one with our clients through every stage of the process, we can assess what estate planning and elder law tools can help you get the most out of your assets and income so that you can be comfortable and secure when the unexpected happens. Here, you’ll get the personal service, strategic analysis and effective guidance you need for estate planning, elder law and probate.
Contact us today by email to work with an experienced special needs trust attorney or call us at 865-693-2500 to schedule a free initial phone consultation.