Estate Planning Basics Attorney in Phoenix, Arizona

What is a special needs trust and when are they used?

Phoenix, AZ estate planning attorney Mark A. Bregman talks about what a special needs trust is.

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So special needs planning is probably one of the most misunderstood areas that we practice in. You need a special needs trust if you have a child or a beneficiary that has a diagnosis and is receiving government benefits and you want to be sure that if they receive an inheritance that the inheritance doesn’t disqualify them from some mean testing benefits because if they lose those benefits then they may lose other benefits. So we have to be very careful in planning that if there’s a child involved that’s on the spectrum or has a diagnosis and is receiving government benefits or may receive government benefits in the future then we need to add in some language into our trust so that when that person actually inherits that there’s limitations on how the trustee can use the money for that child’s benefit.

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