Special Needs Planning Attorney in New York, New York
What’s a special needs trust in New York?
What’s a special needs trust in New York?
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so a special needs trust in new york is
designed to preserve the beneficiaries
benefits that they are receiving from
the state and the federal government
there is what’s called a first party
special needs trust
where the person who is receiving
benefits from the state or federal
government
or community is creating the trust for
themselves and there’s also what’s
called a third party special needs trust
where let’s say
their mother father niece nephew or
whoever is setting up a trust for their
benefit
either during life or after their death
to make sure that whatever they leave
them does not hurt
them receiving benefits from whomever
the agency is that they’re receiving
benefits from
so we handle both we create the trust
themselves we deal with the litigation
process of actually getting trustees put
in place through the surrogate court
process and the probate process
both for the person on benefits and for
the third party depending on what the
needs are
Contact Russel Morgan, Esq.
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NY estates planning & probate attorney Russel Morgan, Esq. explains how a special needs trust works in New York. He explains that a special needs trust in New York is designed to preserve the beneficiary’s eligibility for state and federal benefits. There are two main types: a first-party special needs trust, created by the beneficiary themselves, and a third-party special needs trust, established by a parent, relative, or other individual for the beneficiary’s benefit, either during life or upon death. The goal in both cases is to ensure that the assets in the trust do not interfere with the beneficiary’s government benefits. He handles both types of trusts, including their creation and any litigation necessary to appoint trustees through the surrogate court and probate process, tailored to the needs of the beneficiary.
