Bountiful, Utah Law Firm
Rowe & Walton PC
Bountiful, Utah Law Firm
Dedicated Legal Planning from Rowe & Walton PC
Caring for a family member with a disability comes with a unique set of joys and challenges. One of the most pressing concerns for many families is how to provide for their loved ones’ financial future without jeopardizing their eligibility for essential government benefits like Supplemental Security Income (SSI) and Medicaid. A Special Needs Trust is a powerful legal tool designed to solve precisely this problem, and at Rowe & Walton PC, we are dedicated to helping you create a secure future for the people you love most.
From our Bountiful, Utah office, we serve families across the entire state, offering the compassionate and knowledgeable legal support needed to navigate the complexities of special needs planning. We help you build a foundation of security that provides peace of mind for years to come.
A Special Needs Trust (SNT), also known as a Supplemental Needs Trust, is a specialized legal arrangement that holds assets for the benefit of an individual with a disability. The primary purpose of an SNT is to supplement, not replace, the government benefits the individual receives.
Funds held in a properly structured SNT are not considered a countable asset when determining eligibility for needs-based programs. This allows a family to set aside money for their loved one to cover expenses that enhance their quality of life—such as education, recreation, therapy, and personal items—without risking the loss of crucial medical coverage and income support.
Creating a Special Needs Trust requires a deep understanding of both state and federal law. Our experienced attorneys guide you through every step of the process with precision and care.
1. What can the funds in a Special Needs Trust be used for? The funds are intended for supplemental needs not covered by government benefits. This can include a wide range of expenses like specialized medical equipment, educational programs, travel, hobbies, professional care services, and entertainment, all aimed at improving the beneficiary’s quality of life.
2. Who should be the trustee? The trustee is responsible for managing the trust’s assets and making distributions. This can be a trusted family member, a friend, or a professional fiduciary like a bank or trust company. The best choice depends on your family’s situation and the complexity of the trust. We can help you weigh the options.
3. What is the difference between a First-Party and a Third-Party SNT? A First-Party SNT is funded with the disabled individual’s assets (e.g., from a personal injury settlement or inheritance). It has a “payback” provision, meaning any remaining funds upon the beneficiary’s death must be used to reimburse the state for Medicaid services. Assets from parents, grandparents, or others fund a Third-Party SNT. This type does not have a payback provision, and any remaining funds can be passed on to other chosen beneficiaries.
Planning for your loved one’s future is one of the most important steps you can take. Let us help you do it right. Contact the dedicated attorneys at Rowe & Walton PC to discuss how a Special Needs Trust can provide a lifetime of security and care.
Call our Bountiful office today or fill out our online contact form to get started.
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