special needs trust

How to Care for a Loved One With Special Needs

When a loved one has special needs, it’s natural – and admirable – to support him or her in every way possible. You want to see your loved one enjoy a good quality of life. You don’t want him or her to scrape by on the bare minimum.

Providing for a loved one with special needs, however, involves complex considerations. You can’t simply give money or property outright; doing so could disqualify your loved one from vital public benefits. Additionally, those with mental disabilities may not be able to manage finances and property on their own.

The Solution: Create A Trust To Meet Your Loved One’s Needs

A special needs trust (also called a “supplemental needs trust”) allows you to provide for a loved one who has physical or mental disabilities. A trust is simply a legal entity that owns assets. These assets are managed by the trustee for the benefit of the person with special needs (the beneficiary).

If you are considering establishing a special needs trust, I can help. I am attorney Linda Hart Tabory, founder of Tabory Law LLC in the Overland Park area of Kansas City. I devote my practice to helping families care for their loved ones by making use of estate planning tools.

There are two main types of special needs trusts:

  • A first-party trust is funded with the beneficiary’s own property – for example, with a personal injury award, life insurance proceeds or inheritance.
  • A third-party trust is funded with property from someone else – for example, from parents or relatives. This type of trust often becomes necessary when a child with special needs reaches adulthood.

By taking the time to understand your situation, I will help you create a trust for your loved one that best suits his or her needs. I also advise trustees on how to uphold important obligations in managing trust property. Applying more than 30 years of experience as a practicing lawyer, I can readily identify ways to give your loved one every advantage in life.

Learn more by sending me an email or calling 913-213-6585.

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