St. Petersburg Supplemental Needs Trust Lawyer
If you have a loved one with special needs such as a developmental disability, ensuring their financial security while preserving their eligibility for government benefits is a top priority. A supplemental needs trust (SNT) is a specialized estate planning tool designed to provide additional support to individuals with disabilities without jeopardizing their access to programs like Medicaid or Supplemental Security Income (SSI). At Drude Tomori Law, we help families establish and manage supplemental needs trusts to protect their loved ones’ futures. Contact our St. Petersburg supplemental needs trust lawyer today to ensure you are taking all the right steps for your family members in need.
What Is a Supplemental Needs Trust?
A supplemental needs trust, also called a special needs trust, is a legal arrangement that allows you to set aside funds for the benefit of an individual with disabilities. The trust is designed to supplement—not replace—government benefits, providing resources for quality-of-life expenses that government assistance does not cover.
Common uses of an SNT include paying for medical care not covered by insurance, educational opportunities and training programs, assistive devices or equipment, and even travel, entertainment, or recreational activities. By structuring the trust correctly, the assets in the trust are not considered when determining the beneficiary’s eligibility for public benefits.
Types of Supplemental Needs Trusts
There are two primary types of supplemental needs trusts, each suited to different situations:
- Third-Party Supplemental Needs Trusts: These are established by someone other than the beneficiary, such as a parent or grandparent, and funded with assets belonging to the person creating the trust.
- First-Party Supplemental Needs Trusts: These are created using the beneficiary’s own assets, often from an inheritance or personal injury settlement, and must meet specific requirements under federal and Florida law.
Drude Tomori Law can help you determine the right type of trust for your loved one’s circumstances.
Why Consider a Supplemental Needs Trust?
Caring for a loved one with special needs often involves complex financial and legal considerations. A supplemental needs trust offers significant advantages in the right circumstances, such as:
- Preserving Eligibility for Benefits: Funds in an SNT are not counted as income or assets for purposes of Medicaid or SSI eligibility.
- Providing Long-Term Financial Security: The trust ensures that resources will be available to meet your loved one’s needs over time.
- Ensuring Proper Management of Funds: A trustee is appointed to oversee the trust and use the funds for the beneficiary’s benefit according to the trust’s terms.
With a supplemental needs trust, you can rest assured that your loved one will be cared for, both now and in the future.
How Drude Tomori Law Can Help With Supplemental Needs Trusts in St. Petersburg
At Drude Tomori Law, we take a compassionate and personalized approach to supplemental needs planning. We will take the time to explain the legal requirements for establishing a supplemental needs trust. We draft the trust to align with your loved one’s specific needs and goals and can help you choose a qualified trustee to manage the trust effectively. Our firm is dedicated to helping you protect your loved one’s financial future while ensuring compliance with state and federal laws.
Contact a St. Petersburg Supplemental Needs Trust Lawyer
Protect your loved one’s future with a supplemental needs trust crafted by the skilled attorneys at Drude Tomori Law. We’ll guide you through the process, ensuring your trust is designed to provide for your loved one’s needs while preserving access to vital benefits.
Call us at 727-300-8900 or contact us online to schedule a consultation. Let us help you create a plan that brings peace of mind and lasting security.
