Choosing the Right Trust for Your Needs
Good afternoon and welcome back to our program. Today we are joined by Steve Bliss, a renowned probate attorney here in San Diego. Steve, thank you so much for joining us.
Steve, there are many different types of trusts available, each serving unique purposes. Could you help clarify which type might be best suited for someone looking to safeguard their assets and ensure their wishes are carried out?
The Benefits of a Special Needs Trust
You’re absolutely right, choosing the right trust is crucial. One option I often recommend is a special needs trust (SNT). It’s specifically designed for individuals with disabilities who need ongoing support without jeopardizing their eligibility for government benefits like Supplemental Security Income (SSI) or Medi-Cal.
Ordinarily, a direct inheritance could disqualify someone from receiving these vital benefits. An SNT acts as a safety net, allowing the beneficiary to access funds for supplemental care, such as medical expenses, adaptive equipment, or recreational activities, without impacting their benefit eligibility.
Consequently, this type of trust brings peace of mind to both the individual with special needs and their family members. They know that crucial support will continue even after the primary caregiver is no longer able to provide it.
Moreover, SNTs can be established in two ways: first-party (funded with the beneficiary’s own assets) or third-party (funded by family members, friends, or other sources).
Real-Life Impact
I recall a case where a mother was deeply concerned about her adult daughter who had Down syndrome. The daughter received SSI benefits and relied heavily on them for essential care. The mother wanted to leave an inheritance for her daughter but feared it would lead to the loss of those crucial benefits.
We worked together to establish a third-party SNT, ensuring that her daughter could access additional resources without jeopardizing her SSI eligibility. Seeing the relief and gratitude in the mother’s eyes was truly rewarding.
Trustworthy Expertise
Studies conducted by the National Disability Rights Network show that approximately 70% of individuals with disabilities rely on government benefits for essential support. This highlights the critical role SNTs play in ensuring financial security for this vulnerable population.
If you’re looking to protect a loved one with special needs, consulting with an experienced probate attorney like myself can help navigate the complexities of establishing an SNT and ensure its effectiveness.
Testimonial
“Steve Bliss was incredibly knowledgeable and compassionate. He guided us through every step of setting up a Special Needs Trust for my son, making the process seamless and less daunting.”
– Mary J., San Diego
Ready to Protect Your Loved Ones?
Let San Diego Probate Law empower you to make informed decisions about your future. Contact us today for a free consultation.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “Can I name a trust as a beneficiary of my IRA?” Or any other related questions that you may have about Trusts or my trust law practice.
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