Special Needs Trusts
Preserving Assets, Even With Medicare or SSI | Plano Senior Estate Planning Attorney
A sad reality for many aging and/or disabled people is that government income and medical assistance programs seemingly require them to spend a majority of their assets before they can qualify for the benefits they need.
Fortunately, you can preserve some of your assets and still qualify for programs like Medicare and Social Security Income (SSI) by establishing a special needs trust or supplemental needs trust. Such trusts are protected funds that can be dedicated toward protecting and preserving money for specific purposes, such as:
- Providing a regular income for a spouse or dependent.
- Paying necessary living expenses for a spouse or dependent.
- Preserving money for a loved one’s medical needs or other care.
The lawyers of Criss Law Group, PLLC, have more than 30 combined years of experience in providing legal solutions to clients in the North Texas and DFW Metroplex areas. We can help you establish a special needs trust as part of our comprehensive estate planning services.
For a free consultation to discuss your circumstances, call us in Dallas, Texas, at 214-347-8195.
Protecting Personal Injury Awards | Dallas Special Needs Trust Attorney
A special needs trust can be a useful asset protection tool for people who have nursing home bills to pay, as well as for people who require extended medical care after sustaining a personal injury due to negligence, such as in a car accident or a fall on an unsafe property.
Particularly, a special needs trust can protect and preserve money you received as a result of an out-of-court settlement or court award resulting from a lawsuit. As a result, you may be able to create a financial safety net for yourself or your family instead of watching your entire award go toward paying medical bills.
Build ‘Trust’ Into Your Estate Plan
At Criss Law Group, PLLC, we are big proponents of estate planning because of the enormous benefits it provides to our clients. Assets that might otherwise be consumed by medical bills or probate costs can be preserved for the family members who really need them. Likewise, important financial and healthcare decisions that might otherwise be made by strangers can be made by the people who are most affected by those decisions.
By incorporating a special needs trust into your estate plan, you can add one more line of defense in your struggle to preserve your finances, your lifestyle and your health.