A Special Needs Trust (SNT) is a vital legal tool that ensures individuals with disabilities can receive financial support while retaining access to essential government benefits like Medicaid and Supplemental Security Income (SSI). At the Law Office of Randy P. Davenport, we recognize that planning for the future of a loved one with special needs is a deeply personal and multifaceted process. We are committed to helping families navigate this journey with compassion and expertise, crafting tailored solutions that protect their loved one's financial and personal well-being.

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A Special Needs Trust is a legal arrangement that allows funds to be set aside to benefit individuals with disabilities without disqualifying them from crucial government programs. The trust ensures that the beneficiary needs are met responsibly, enhancing their quality of life while safeguarding eligibility for means-tested benefits.

Funds from an SNT can cover a wide range of needs and services, such as:

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• Medical treatments or therapies not covered by Medicaid.

• Specialized equipment or assistive technology.

• Education and vocational training.

• Transportation, travel, and recreation.

• Personal care and in-home assistance.

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Planning for the future of a loved one with disabilities requires careful consideration of both financial and practical needs. An SNT offers:

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• Preservation of Government Benefits: Protect eligibility for essential programs like Medicaid, SSI, and housing assistance.

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• Enhanced Quality of Life: Use trust funds to pay for items and services that enrich the beneficiary's life beyond basic needs.

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• Professional Management: A designated trustee oversees the trust, ensuring that funds are used in the beneficiary's best interest and compliance with legal requirements.

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• Long-Term Security: Provide financial stability for your loved one, even when you can no longer provide direct support.

 

We offer guidance on choosing the right type of Special Needs Trust based on your family's circumstances:

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1. First-Party Special Needs Trusts:

   • Funded with the beneficiary's assets, such as an inheritance or a personal injury settlement.

   • Designed to meet Medicaid and SSI compliance, with funds potentially reimbursing Medicaid upon the beneficiary's death.

2. Third-Party Special Needs Trusts:

   • Funded by someone other than the beneficiary, such as a parent, grandparent, or relative.

   • Not subject to Medicaid payback rules, allowing remaining funds to pass to other beneficiaries.

3. Pooled Special Needs Trusts:

   • Managed by nonprofit organizations, combining assets from multiple beneficiaries while maintaining individual accounts.

   • Ideal for families with modest resources or those seeking professional management.

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