Asheville Special Needs Planning & Trusts

If you have a disabled child or spouse, you understand the lasting nature of their needs.

How can you ensure their lifetime care if something happens to you?

Let us assist you in devising a comprehensive plan that offers financial security while safeguarding their government benefits.

What can I do for my loved one with disabilities?

Frequently, well-intentioned families inadvertently put their disabled loved one’s crucial government benefits, like Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), Medicaid, and Medicare, at risk.

How does this occur?

Motivated by their desire to care for and support their loved ones, these families often directly provide significant sums of money to their loved ones, typically through an inheritance.

Their intentions are noble. They aim to ensure their loved one’s well-being. However, receiving these funds can lead to the loved one becoming ineligible for government benefits.

Once these personal funds are depleted, the safety net provided by these benefits disappears.

So, what’s the solution?

We recommend a special needs trust.

Contact us at (828) 707-9939 or click here to get started today.

What can I do for my loved one with disabilities?

Frequently, well-intentioned families inadvertently put their disabled loved one’s crucial government benefits, like Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), Medicaid, and Medicare, at risk.

How does this occur?

Motivated by their desire to care for and support their loved ones, these families often directly provide significant sums of money to their loved ones, typically through an inheritance.

Their intentions are noble. They aim to ensure their loved one’s well-being. However, receiving these funds can lead to the loved one becoming ineligible for government benefits.

Once these personal funds are depleted, the safety net provided by these benefits disappears.

So, what’s the solution?

We recommend a special needs trust.

Contact us at (828) 707-9939 or click here to get started today.

What are Special Needs Trusts?

A special needs trust offers a solution for providing financial assistance to your disabled loved one while safeguarding their public benefits.

Instead of directly transferring money to your disabled child or spouse, you place your funds into this trust. This strategy prevents the government from counting these funds against them.

If you have a disabled family member, you can select one of two types of special needs trusts to secure their benefits:

First-Party Trust

Funded using the disabled person's own money, such as an inheritance or award in a lawsuit. Any remaining funds in this trust will cover care expenses upon their passing.

Third-Party Trust

Funded by someone else, such as a parent. When the disabled individual dies, any remaining funds in this trust revert to the family rather than the government.

In addition to special needs trusts, there are also ABLE accounts. This tax-advantaged savings account is designed to help families accumulate funds for their disabled children without affecting eligibility for benefits programs.

Contributions to an ABLE account are tax-free if the money is used for qualified disability expenses, such as housing, food, transportation, education, healthcare, or support services.

You want the best future for your disabled loved one.

You wouldn’t want them to lose their benefits due to an inadvertent error on your part.

Setting up and funding a special needs trust correctly is essential. Moreover, using the trust funds appropriately is equally crucial to prevent any negative impact on their benefits.

Having a special needs planning team by your side ensures protection for your loved one both now and in the future, even when you may no longer be around to provide guidance and support.

Special needs planning can be challenging.

Your disabled loved one relies on your support for every aspect of their life.

Simultaneously, you’re managing the complexities of government benefits and administrative hurdles.

We understand your unwavering desire for the best possible future for your disabled loved one.

Through special needs planning, you can craft a comprehensive plan that secures their long-term well-being, granting you peace of mind today.

Advantages of a Special Needs Trust

A Special Needs Trust offers more than just safeguarding public benefits.

Here are some additional advantages to support your loved one with disabilities:

Caretaker Choice

You can select who will care for them if something happens to you. This trust guarantees that the chosen individual is appointed.

Tax-Free Giving

A Special Needs Trust allows family members to contribute directly to the trust without incurring gift taxes.

Total Control

With this trust, you maintain complete control over the funds, determining the amount and timing of disbursements in compliance with SSA and IRS regulations.

Enhancing Quality of Life

A Special Needs Trust addresses a wide range of needs, from transportation and education to personal care, all while preserving access to Medicaid and SSI.

A Special Needs Trust is an empowering tool for your disabled loved one.

Our team can assist you in tailoring the trust’s structure to your specific circumstances, ensuring uninterrupted access to your loved one’s benefits

We are here to help with your special needs planning.

Preparing for the lifelong care of your loved one might seem daunting, but you’re not alone.

Our team possesses the experience, knowledge, and understanding required to navigate the intricate regulations surrounding special needs trusts.

Rest assured, we are here to provide you with the legal tools and support you need to shape the future you envision for them.

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