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A Special Needs Trust (SNT) is a type of trust designed to provide a person with a disability with assets to enhance his or her quality of life while at the same time enabling that person to remain eligible for needs based public benefits, such as Supplemental Security Income (SSI) and Medi-Cal. The person remains eligible for these benefits if the non-exempt assets are properly placed in a special needs trust that is appropriately drafted, and, when necessary, approved by the Superior Court.
There are two types of SNTS, a first party SNT, which is funded with the assets of the person with the disability, and a third party SNT, which is funded by a third person, typically a parent or grandparent of the disabled person.
Sandra Clark is experienced in the drafting of and court work necessary, when applicable, to formation of a SNT where the situation calls for such a trust, and formation of such a trust is possible. She also, when applicable, can place a special needs trust provision into an estate plan, when a child or other potential beneficiary is disabled and receiving needs tested benefits such as SSI or Medi-Cal, so as to preserve that eligibility.
If you have a situation that calls for such consideration, or have questions about the possibility of a SNT, or incorporating one into an estate plan due to a disabled beneficiary, give our office a call.
When you're seeking legal advice and guidance for setting up a special needs trust, call the Law Offices of Campbell & Clark today. Our team of attorneys has over 70 years of combined experienced in helping you and your loved ones receive their Social Security or SSI benefits. You won't have to pay any fees unless you receive your benefits!
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While SNTs cover some aspects of what is possible in the Medi-Cal planning area, sometimes even more comprehensive planning is necessary, typically when the facts involve an elder facing the necessity of long term nursing care, due to the staggering expense of such care.
Depending on the facts, assets can often be preserved for a spouse or children of an elder facing long term care, by employing the strategies of a Probate Code 3100 Petition to the Superior Court (essentially converting community property to the separate property of the non-care spouse, under supervision of the Court, to preserve it from being spent down for long term care).
Additionally, when the facts involve a residence of the elder with low tax basis that is likely to be sold during the long term care, Sandra Clark has also used the vehicle of the Medicare Asset Protection Trust to preserve the residence value as an asset, and avoid the post death Medi-Cal lien against the residence, again, with an eye toward preserving as much of the assets as possible for the spouse of children of the elder in long term nursing home care.
If you are facing such issues, or a loved one is or might be, give our office a call.