Planning for the future of a loved one with disabilities requires more than financial foresight; it demands legal precision. A special needs trust in Staten Island allows you to provide long-term financial support for your family member without jeopardizing their eligibility for vital government benefits such as Supplemental Security Income or Medicaid.
At The Law Offices of Louis P. Lepore, we understand that each family’s circumstances are unique. Our trusts attorneys could work closely with you to create funding that aligns with your goals and safeguards your loved one’s well-being. We could help you navigate the complex state legal requirements of trust creation so you can plan with confidence and peace of mind.
A special needs trust is a legal instrument designed to hold and manage assets for a person with disabilities while maintaining their eligibility for means-tested government programs. Under New York Estates, Powers and Trusts Law (EPTL) §7-1.12, these trusts are authorized to provide supplemental financial support without being considered countable assets for benefit purposes.
When structured correctly, a special needs trust can cover expenses to enhance your loved one’s quality of life without interfering with their benefits for needs such as:
Our Staten Island attorneys could ensure your special needs trust complies fully with state and federal guidelines, while also providing ongoing guidance to trustees regarding proper fund administration and reporting.
Each type of special needs trust serves a distinct purpose. First-party trusts are funded with the beneficiary’s own assets, such as an inheritance or personal injury settlement. Third-party trusts are funded by someone other than the beneficiary, typically parents or grandparents. These trusts are not subject to Medicaid payback rules and can be incorporated into your broader estate plan. Pooled trusts are managed by nonprofit organizations that combine assets from multiple beneficiaries for investment purposes while maintaining individual accounts.
Selecting the right trust depends on your loved one’s circumstances, available assets, and long-term care goals. Our attorneys at The Law Offices of Louis P. Lepore could provide clear guidance on which structure best fits your family’s needs and ensure that your trust aligns with applicable state and federal requirements.
By consulting with one of our Staten Island attorneys familiar with trust funds for loved ones with disabilities, you could avoid costly errors and ensure your loved one remains financially secure.
Creating a special needs trust involves complex drafting and compliance requirements. A single error—such as improper funding, incorrect wording, or failure to meet statutory conditions—can invalidate the trust and disqualify your loved one from government assistance.
One of our experienced Staten Island attorneys could ensure that every detail of your special needs trust meets the state’s strict legal standards. We take the time to understand your family’s situation, explain your options, and tailor the trust to meet your objectives. We also coordinate with financial advisors and care providers to ensure the trust functions smoothly over time.
A special needs trust in Staten Island offers more than financial security—it provides stability and peace of mind for you and your family. By working with our attorneys, you could ensure your loved one’s care and quality of life are preserved while maintaining essential public benefits.
At The Law Offices of Louis P. Lepore, our team is ready to help you design a customized estate plan that meets your family’s unique needs. Contact us today to schedule a consultation and explore how best to protect your loved one’s future.
(718) 354-8646