Special Needs Trust

Illinois Special Needs Trust Attorneys

Those who are responsible for the care of a physically or mentally disabled child or loved one often wish to ensure that the care continues after their death. While the government may take care of a disabled person's basic needs such as food, clothing, housing and health care through the Social Security Administration's Supplemental Security Income Benefits (SSI) and Medicaid, these programs do not cover extra expenses such as entertainment, travel and other luxuries. The use of a special needs trust, also called a supplemental needs trust, funded with a client's own assets allows them to establish a fund to help cover these extra expenses for a disabled person.

At Momkus McCluskey, LLC, our estate planning attorneys are experienced in working with special needs trusts. We help clients create a unique estate plan designed for their unique needs. From our offices in Lisle, IL and downtown Chicago, we work closely with clients to ensure they have peace of mind that their loved ones will be well cared for after they are gone.

Planning for Care of Special Needs Dependents

Bequeathing assets to a disabled dependent outside of a trust is a bad idea because it can interfere with the dependent's eligibility for government assistance programs. Likewise, bequeathing assets to another loved one with the specification that the money is to be used to benefit a disabled loved one is risky. That money can be vulnerable to high taxes, legal judgments or bankruptcy, and it can be lost to the beneficiary's heirs upon death.

The best way to ensure a disabled dependent receives the full benefit of an inheritance without penalty is through a special needs trust. A special needs trust can be funded through a will, survivorship life insurance, legal settlement or gifts from friends and relatives. A trustee is chosen to manage the trust and has full discretion over the trust's assets.

Creating an effective special needs trust requires a knowledgeable attorney. Specific language must be used so that the trust is administered properly and the assets are used as they are intended to be. Our attorneys are skilled in creating special needs trusts that are legally sound and provide maximum benefit to the beneficiary.

To schedule a consultation with an experienced estate planning attorney skilled in working with special needs trusts, contact Momkus McCluskey, LLC.