Good afternoon and welcome back. Today we’re joined by Steve Bliss, an esteemed probate attorney here in Escondido, who is going to shed some light on a crucial topic: estate planning for individuals with disabilities.
Understanding Special Needs Trusts
Steve, can you start by explaining what a special needs trust is and why it’s so vital?
“Certainly. A special needs trust, often abbreviated as SNT, is a specialized legal instrument designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for essential government benefits like Supplemental Security Income (SSI) or Medicaid,” explains Steve.
“These programs have strict income and asset limits. Consequently, if someone with a disability were to inherit money directly, it could potentially disqualify them from receiving these vital support systems.”
Preserving Eligibility for Government Benefits
“That’s where an SNT comes in,” Steve continues. “By placing assets into this trust, we ensure that the beneficiary still qualifies for government benefits while also having access to funds for supplemental needs like medical expenses, assistive technology, education, or recreational activities. It’s about improving their quality of life without compromising essential support.”
“Moreover, there are two main types of SNTs: first-party and third-party. A first-party SNT is funded with the beneficiary’s own assets, often from a personal injury settlement or inheritance. Conversely, a third-party SNT is established by someone else, like a parent or grandparent, using their own funds.”
Addressing Concerns: A Matter of Trust and Expertise
“Have you ever encountered any challenges while setting up these trusts?” I ask Steve.
“Occasionally, families express concerns about control and access to funds,” he replies. “They want to ensure their loved one’s well-being while also respecting their autonomy. That’s why it’s crucial to work with an experienced probate attorney who understands the nuances of SNTs.”
“I remember a case where a mother was hesitant to establish a trust for her adult son with autism, fearing it would take away his independence. After explaining the benefits and tailoring the trust terms to address her concerns, she gained peace of mind knowing he would be financially secure while retaining his dignity.”
Impact and Importance: Numbers Speak Volumes
“According to a study by the National Disability Rights Network, over 50% of adults with disabilities live below the poverty line,” notes Steve. “SNTs can play a significant role in bridging this gap and empowering individuals to lead more fulfilling lives.”
Empowering Futures: Reach Out for Expert Guidance
Steve concludes by emphasizing the importance of seeking professional legal advice. “Navigating the complexities of estate planning, especially when disability is involved, requires expertise. Don’t hesitate to contact Escondido Probate Law. We are dedicated to crafting personalized solutions that protect your loved ones and ensure their financial well-being.”
Testimonials
“Steve Bliss and his team at Escondido Probate Law were invaluable in setting up a special needs trust for my daughter. They took the time to understand our unique situation and guided us through the process with compassion and clarity. We are incredibly grateful for their expertise and support.” – Sarah M., Escondido
“As a financial advisor, I often recommend Steve Bliss to my clients who need assistance with estate planning. He is knowledgeable, trustworthy, and truly cares about his clients’ well-being. His dedication to helping families protect their loved ones is commendable.”
– Michael L., Certified Financial Planner
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido Probate Law is a great estate lawyer. Affordable Legal Services.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “What if I have property in another state?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
| Escondido Estate Attorneys |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Attorneys Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Attorneys |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Escondido Estate Attorneys |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Attorneys Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Credible Estate Attorneys in Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |