Whether you live with a disability yourself or have a disabled family member, it is important to ensure that you or your loved one has the resources to pay for the medical bills, assisted living costs and other expenses that are unique to those who live with disabilities.
At Dzialo, Pickett & Allen, P.C., we understand the complex area of special needs trusts and can help you or your loved one establish a plan to ensure financial well-being in the future. We assist clients in Middletown, Old Saybrook and Hartford.
Our attorneys are members of PLAN of Connecticut, which provides families assistance in planning for the needs of their disabled family members and ensuring those individuals continue to benefit from a special needs trust after a primary caregiver has passed away.
What Is A Special Needs Trust?
A special needs trust is a trust established for a person who has a physical or mental disability. It protects certain property from which a disabled individual can benefit while still allowing that person to qualify for important government benefits like Medicaid. If an individual is unable to make financial decisions on his or her own, a special needs trust also allows a trustee to oversee use of the property held in the trust.
Some of the expenses a special needs trust can cover include:
- Dental or psychological services
- Supplemental nursing or medical care
- Vehicle or transportation expenses
- Recreational expenses
- Companion services
Third-Party Vs. First-Party Trusts
There are two types of special needs trusts: third-party trusts and first-party trusts. Third-party trusts are the most common. These trusts are often set up by individuals who have a family member with a disability. Often, the property that goes into a third-party special needs trust is left through a will or other beneficiary designation such as a life insurance policy.
A first-party special needs trust protects the property of the disabled individual. For example, if a disabled individual received a monetary award from a divorce, personal injury lawsuit or inheritance, that property could be protected in a first-party special needs trust.
We Are Ready To Help
Our lawyers have many years of experience helping families and individuals who live with disabilities create special needs trusts. Call us today at 860-398-9386 or contact us online to arrange a consultation. We speak Spanish and Polish.