Cincinnati Lawyers for Special Needs Trusts
When someone you care about has special needs, working with a lawyer can help you structure ways to minimize tax consequences and to provide for their future needs. At Beckman Weil Shepardson LLC, in Cincinnati, we use our years of experience to help families create special needs trusts to help achieve their personal and financial goals.
The law affecting special needs trusts is complex. While many attorneys do some work with these laws, the attorneys at Beckman Weil Shepardson LLC have the in-depth knowledge necessary to help you achieve the best possible results. We have done extensive work in the area of special needs trusts — dedicating our careers to protecting the legal rights of the elderly, as well as those of people with mental and physical disabilities.
Using our knowledge and experience, we may recommend one or several special needs planning strategies to help achieve your goals:
- Medicaid payback trusts: Sometimes referred to as special needs trusts, Medicaid payback trusts are usually funded through a personal injury settlement, jury award or inheritance. Depending on your situation, certain restrictions and requirements may apply.
- Pooled trusts: Pooled trusts are special types of Medicaid payback trusts that are managed by professionals. They are a great benefit to individuals in certain family situations.
- Supplemental services trusts: For people who meet certain requirements, supplemental services trusts are a way for other people — like parents — to set money aside for needed care.
- Third-party discretionary trusts: These trusts are set up using the funds of another individual, like a parent, and are usually for the benefit of a group of beneficiaries. The terms of the trust do not mandate that any one beneficiary of the trust receive a certain amount.
To learn more about these types of special needs trusts and other planning strategies for people with disabilities, work with a law firm that provides distinctly personal attention to clients throughout the greater Cincinnati area. We invite you to contact Beckman Weil Shepardson LLC at 513-621-2100.
