Special Needs Trusts
New Jersey attorneys helping to guide families receiving needs-based benefits. Put your trust in Price and Price.
You may be caring for a disabled child. At New Jersey estate planning law firm Price and Price, LLC, we realize that people caring for loved ones with special needs have a huge responsibility. The expenses alone can be overwhelming. You may depend on benefits from the government to support your loved one.
If your loved one is receiving needs-based public assistance, you don't want to risk losing those benefits if something should happen to you. Unfortunately, if you leave certain assets, including cash, to a family member with special needs, your loved one may be disqualified from receiving benefits such as Medicaid, SSI or NJ FamilyCare. Your assets may be used to pay for medical care and other expenses related to the disability or condition.
Why you should consider Price and Price to set up a special needs trust for your child
But you can protect your loved one's benefits by making plans in advance with the help of Price and Price. We want you to know you don't have to go it alone. Help is available from legal professionals with decades of experience in setting up what are known as "special needs trusts."
By contacting a respected and highly skilled attorney at Price and Price, you will take your first step toward making sure your loved one is positioned to receive the benefit of your assets and continue to receive benefits from the government by setting up a special needs trust. Price and Price brings 40 years' combined elder law experience to the table when we help families with estate planning, including the creation of special needs trusts.
What are special needs trusts?
Instead of leaving your property directly to your loved one with a disability, you can leave your property to a special needs trust. You will need to designate a trustee who will have discretion over the special needs trust and will spend the money on behalf of your loved one. When a special needs trust is created, the government will not disqualify your loved one from receiving benefits. This is because your loved one has no ownership or control over the money in the special needs trust.
The trustee cannot give money directly from the trust to your loved one, but instead can spend trust funds on expenses such as personal care attendants, physical rehabilitation, transportation, home furnishings, among other things for your loved one's benefit.
Price and Price - proven results, personalized service. Your clear choice.
Call today to take your first step toward receiving peace of mind. We won't take you for granted or treat you like another number. Price and Price is the largest elder law firm in Southern New Jersey, but we haven't forgotten the importance of putting client needs above all else.
We start by answering your questions. We know you might have a lot of them about your unique situation. We'll sit down with you and discuss the best ways to create a solid strategy the puts the needs of your loved one first.
With our office in Haddonfield, we proudly serve clients across Southern New Jersey. But if you can't come to us from your home in Camden, Burlington, Gloucester or Atlantic counties, you can talk to us via Skype or FaceTime. Call us 866-270-3513 or fill out the contact form on this page to tell us how you want to arrange your consultation.