SPECIAL NEEDS PLANNING
Are you worried about the well-being of a loved one with special needs after you can no longer provide care? There are options available to ensure that the quality of life your loved one enjoys can be maintained for their lifetime. At the Law Offices of Tracy R. Field PLLC, we’ll help you develop a plan that allows you to set aside funds for an individual with a disability, without jeopardizing their eligibility for public benefits.
New York Special Needs Planning
A Supplemental Needs Trust (SNT), also known as a Special Needs Trust, allows a person who is certified as disabled to get government
benefits, such as Medicaid. Under Medicaid law, a person with a disability is not eligible for Medicaid if they have too much money or assets. The SNT allows a person who is certified as disabled and who has excess resources to receive Medicaid, if the excess resources are placed in the Supplemental Needs Trust.
Benefits of a New York Supplemental Needs Trust (SNT)
One of the main benefits of a Supplemental Needs Trust is that it allows your loved one to maintain eligibility for government benefits, while also providing additional resources to enhance their quality of life. The funds in the Supplemental Needs Trust pay for expenses not paid for by public benefits. The purpose of the trust is to provide financial resources for the supplemental needs of the disabled individual, such as medical and long-term support, transportation, education and tutoring, recreation and entertainment, and personal care. It is important to note that the trust is designed to supplement, rather than replace, government benefits such as Supplemental Security Income (SSI) and Medicaid. This means that the funds from the trust cannot be distributed directly to the disabled beneficiary, but must instead be used to pay third parties for goods and services that the beneficiary will use and enjoy.
We can help you structure an estate plan that takes into consideration the needs of your child or loved one with a disability. Contact the Law Offices of Tracy R. Field today. You may schedule a 15-minute Discovery Call with our attorney to see if we can assist with your needs.
Why Choose Us
We understand that the estate process can be daunting. We are here to help you. Our estate planning law firm specializes in wills, trusts, probate, estate administration, Medicaid planning, and special needs planning. We take great care to ensure that our clients understand their situation, options, and any potential challenges. Our ultimate goal is to provide peace of mind for our clients.