SPECIAL NEEDS PLANNING ATTORNEYS IN EL PASO, TEXAS
Special needs is the broad category of requirements and care for individuals suffering from a wide range of physical disabilities, medical conditions, intellectual difficulties, or emotional problems, including physical conditions, learning difficulties, and behavioral problems.
One of the most common tools used by attorneys in planning for public benefits is a special needs trust (“SNT”). Governmental benefits are designed to provide basic health care, food and shelter. As such, governmental benefits provide for only a meager existence to recipients.
An SNT is designed to provide additional needs and extras, such as vacations, that normal governmental benefits do not provide. An SNT can either be self-settled or third-party settled depending on the source of the funding. If you do nothing, and your loved one with a disability inherits your money:
They will likely be disqualified from public benefits,
They may lack the financial acuity to manage the funds