Special Needs Gift & Inheritance Trusts
Detroit, Michigan, Special Needs Inheritance Trusts Attorneys
How can you designate funds to assure the quality of life and quality of care for a family member with special needs?
There is a way for you to designate part of your estate to enhance the future quality of life and quality of care for a family member with a disability. When you die, that person's inheritance from your estate can go directly into a Third-Party Special Needs Trust. Contact our Farmington Hills offices if you have questions. One of our lawyers will be happy to provide a consultation.
A Special Needs Trust must be carefully designed and managed to comply with federal and Michigan law. At Mall Malisow & Cooney, our ElderCare and Disability Planning attorneys have extensive experience in drafting and administering trusts.
We provide holistic special needs planning, a process where together we consider all of your goals, your family's needs, and available resources when designing an overall plan for continued management of assets you will leave as an inheritance.
As part of a carefully designed estate plan, you can establish a 3rd Party Trust for the benefit of another (the beneficiary). A Third Party Trust does not have to be used for basic needs, but may provide for the individual's additional needs even if they receive Social Security Income (SSI) or Medicaid benefits. Moreover, unlike a First Party Trust, a Third Party Trust is not required to pay back the state upon the death of the beneficiary for government benefits provided during his or her lifetime.
The choice of a trustee to manage the funds is important. Errors in administration of the trust could result in a loss of SSI or Medicaid payments. Our staff social worker works closely with our attorneys to safeguard assets intended for the enhancement of quality of life.
We help our clients with the full range of essential legal planning instruments that bring peace of mind. Our lawyers provide help with: