Special Needs Trusts Attorney in Rockville, Maryland
Serving clients in Rockville, North Bethesda, and Bethesda, Maryland since 2003
What Is a Special Needs Trust?
Special Needs Trusts refers to an Estate Planning technique used to shelter assets for a Special Needs Person in a way that does not interrupt the person’s government benefits. Special needs trusts, also known as supplemental needs trusts, are an essential tool in planning for the future of your disabled children or ailing spouse.
A special needs trust can benefit any family member and/or children with disabilities by protecting assets and retaining public benefits, because the funds they hold are not considered income for the purpose of eligibility for benefits. The disabled person is called the “beneficiary” and the person or institution that manages the assets is called the “trustee.” Once the trust is set up, a variety of assets can be put into a trust fund, such as cash, stocks, bonds, and real estate investments.
Why you need a Special Needs Trusts Attorney?
The Special Needs Trusts Regulatory Compliance Checklist can be complicated and a good legal advice from a Special Needs Trust Attorney can help avoid serious problems.
- Our attorneys can help you determine the appropriate trust administration method depending upon your circumstances.
- For example: If the recipient makes over a set salary, they may no longer qualify for assistance. An attorney can help planning allocation of such money, so that the recipient can continue to qualify for benefits.
- There are important considerations to keep in mind regarding public benefits, tax implications and the impact of the trust.
Call Us for Counsel on Special Needs Trusts
At Law Offices of Evan J. Krame our special needs trust attorneys will take the time to understand your needs, and we will provide you with comprehensive advice throughout the process.
Attorney Evan J. Krame is one of Maryland’s most respected attorneys practicing in the area of disability planning and is a Charter Member of Academy of Special Needs Planners since 2006.
If you have any questions about Special Needs Trusts or any other estate planning topics, feel free to contact us