Michigan Special Needs Trusts Attorney | Get the Benefits

Michigan Special Needs Trusts

Government programs provide for special needs children, but strict limitations may disqualify a child. Worse yet: if you leave an inheritance or win a lawsuit, that can be enough to deny eligibility.

There is a solution, and at EstateGenius, we create this solution through a Special Needs Trust. We strategically create a trust so your child lives comfortably long after you are no longer here.

Benefit 1: Supplement Your Child’s Needs

With a Third-Party Special Needs Trust, you transfer your assets or money into the trust and can then supplement your child’s financial resources without penalty.

Your child may qualify for government programs like Supplemental Security Income (SSI), subsidized housing, vocational rehabilitation, or Medicaid. These can go a long way to secure your child’s living standards. But you can do more through a third-party Special Needs Trust. The assets of the trust benefit your child but do not negatively affect government programs.

Benefit 2: Secure a Settlement or Judgment Award

With a First Person Special Needs Trust, you transfer funds belonging to the child into the trust without it disqualifying the child from government programs.

When your child settles or wins a lawsuit, the funds from that award can be safely transferred to a first-party Special Needs Trusts. These trusts are set up to receive such funds so that the money may be held and managed in a way that will not disqualify the child from government assistance.

Benefit 3: Peace of Mind

With a Special Needs Trust, you can do more than financially secure your child’s future after you are not here, and that can give you a great deal of peace.

Parents worry about their children and this concern may be especially true with special needs children. A Special Needs Trust does many things, like securing financial resources without disrupting government programs. It also provides another important benefit. You can appoint a trustee whom you trust and who will, by the very nature of being a trustee, look out for your child.

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Wills & Trusts

People with certain assets risk losing them to creditors and taxes. We draft wills and trusts that protect assets now and help you provide financial security to loved ones later.

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Revocable Trusts

A revocable trust offers many benefits to the beneficiaries and allows you to control what happens to your assets. We help draft and fund revocable trusts to meet your specific needs.

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Living Wills

Terminal illness may prevent you from deciding the best care. We devise living wills that allow you to make those decisions now so loved ones know the care you get is what you want.

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Asset Protection

When you accrue wealth, you want to protect those assets from lawsuits, claims, and liabilities. We help create an asset protection plan best for your assets, you, and your family.

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Tax Savings & Avoidance

Estate planning allows you to protect your assets against taxes and probate. We will review your estate and advise you on a plan that secures optimal benefits now and in the future.

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Powers of Attorney

You may not always be able to make the best financial or health decisions, but a power of attorney empowers you to allow another person. We help you find the right power of attorney.

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Guardianships

You may need to seek an adult guardianship for a formerly legally competent loved one, such as a disabled spouse or an elderly parent.

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Conservatorships

A conservatorship may be the best option to protect a senior citizen or other adult who has lost the ability to take care of himself or herself.

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We offer the experience and skill you need to make sure your estate plan is well-structured and benefits you and your family.

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Special Needs Trusts