Do Most Estate Attorneys Handle Special Needs/Supplemental Needs Trusts?

A special needs/supplemental needs trust is an important estate planning tool. Most estate attorneys handle special needs/supplemental needs trusts. Using an attorney is an important step in making sure your special needs trust is handled with care and executed with precision. Many people may not know how most estate attorney can handle special needs/supplemental needs trusts, which is why it is important to find out.
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Questions And Answers

Yes, you can use an estate attorney to handle special needs/supplemental needs trusts. They have the knowledge and experience to help guide you through the process. In addition, they will be able to draft a trust that is the most beneficial to your child with disabilities.

Estate attorneys can handle special needs/supplemental needs trusts because these trusts are directly correlate with the estates of the individuals.

Yes, estate planning includes special needs/supplemental needs trusts. Trusts are a form of estate planning, and the two work together.

There are two types of special needs/supplemental needs trusts. They are third-party trusts and self-settled trusts.

Yes, an estate attorney can advise you which type of special needs/supplemental needs trust you should use. They will look at your information and guide you to the best choice for your circumstances.

Yes, an estate attorney will give you detailed information about the funds within a special needs/supplemental needs trust. They will tell you what these funds can be used for and what they cannot be used for. Additionally, they will let you know the best way for you to fund the trust.

An estate attorney will be able to put provisions in that will help ensure against misused funds. This can include specific stipulations for the trustee. They will also advise you on best practices to avoid misuse of funds.

Yes. If you suspect that funds have been misused in your special needs/supplemental needs trusts, you should contact your attorney. An estate attorney will be able to move forward with these allegations. These are serious allegations and are illegal, so having an attorney is crucial.

Yes. An attorney will have extensive experience and knowledge on all the necessary documents needed to set up and establish a special needs/supplemental needs trust.

You will need a trust document, which will contain several aspects regarding the trust in question, and you will also need a letter of intent. An attorney will be able to help you through these documents.

A reliable trustee is necessary for a trust. Having a reliable trustee appointed will help protect against the misuse of funds in the trust. A dedicated attorney will be able to advise you on the qualities of a good trustee and will advise you in your decision making.

It is important to get an estate attorney to help with special needs/supplemental needs trusts because they will help draft a trust that will take care of your disabled child’s needs past their eighteenth birthday. All too often, trusts can be taken advantage of. Having an attorney to help will mitigate any pitfalls you may encounter.

Yes, an estate attorney can review the special needs/supplemental needs trust to make sure it reflects the current status of the beneficiary.

The needs of the beneficiary can change over time. It is import that this is reflected in the trust. What may have been okay initially may need to be altered later. An attorney will know how to efficiently make this happen.

If you do not use an estate attorney to handle your special needs/supplemental needs trust, then you run the risk of getting an inadequate lawyer who is not well versed in the field of special needs trusts. Moreover, if you decide to do it yourself, you will inevitably make several common mistakes that are committed when establishing a special needs/supplemental needs trust.

There are many common mistakes that are made when not using an estate attorney. Some of these mistakes include not writing proper instructions for the trust, not funding the trust properly, not making the trust “irrevocable,” not finding a reliable trustee, and so on.

Yes, an estate attorney will be able to determine if your trust should be revocable or irrevocable, though usually it is the latter. It depends on each person’s case.

The trustee oversees the distribution of the funds of the trust to the beneficiary. However, an attorney will be able to draft the trust and give valuable insight into the amounts that should be given per month to keep the beneficiary eligible for government benefits.

A special needs/supplemental needs trust should not exceed $2,000 per month to remain eligible for government benefits. An estate attorney will help determine the proper amount accordingly.

An estate attorney will be able to handle any transition of the trust. A transition may occur due to a death, and the attorney will be able to make the transition run smoothly and efficiently.