Special Needs Planning Attorney in Murfreesboro, Tennessee
Special Needs Trusts & Wills for Adults with Disabilities
Special needs planning is a process that can help individuals with disabilities and their families prepare for future financial and medical needs. It is important to consider this process early in life, as the needs of individuals with disabilities tend to increase as they age. Special needs planning is often essential for individuals with disabilities, because the rules for public benefits are often limited for those who are not employed.
The attorneys at Murfree & Goodman, PLLC can help you create a special needs trust or will that can help provide for your future needs. Our attorneys have a combined 35 years of experience working with individuals with disabilities and their families and will work with you to develop a plan that suits your needs.
Contact our office at (615) 895-7000 to schedule an appointment with a special needs attorney near you.
What Are the Benefits of a Special Needs Trust?
There are many benefits to establishing a special needs trust. A trust can help preserve the individual's eligibility for public benefits, such as Medicaid and Supplemental Security Income. It can also help protect assets from being spent on unnecessary expenses, such as those from a nursing home. Additionally, a trust can help an individual with disabilities save for future needs, such as education or housing.
Some of the benefits of a special needs trust include:
- Preservation of public benefits
- Protection of assets
- Ability to save for future needs
Can a Will Be Used to Create a Special Needs Trust?
A will may be used to create a special needs trust. However, a will is not the best way to create a trust for an individual with disabilities. A will must go through probate, which is a process in which a court oversees the distribution of an estate. This process can be costly, time-consuming, and can result in the trust being opened to public scrutiny. Additionally, the rules for probate are different for special needs trusts, which may result in the trust not being administered as intended.
It is best to use a revocable living trust to create a special needs trust. A revocable living trust helps you avoid probate and is easier to modify than a will. A revocable living trust can be changed or revoked at any time and does not need to go through the court system to be changed.
How Can Our Special Needs Trust Lawyers Help?
The attorneys at Murfree & Goodman, PLLC can help you create a special needs trust or will that meets your needs. We can help you determine what type of trust is right for you and help you decide how to distribute your assets. We can also help you modify your trust as your needs change.
Contact our office at (615) 895-7000 to schedule an appointment with a special needs trust lawyer near you.
