Empowering the Secure Future of a Loved One with Special Needs in Franklin County, MO
Special Trust Legal LLC
Secure your child’s future with customized special needs planning. Learn how Jennifer A. DiCarlo can help protect your loved one's well-being with a plan tailored to your family’s unique needs.
As a parent of a child with special needs, you already juggle numerous responsibilities. Planning for the future may feel overwhelming, but it’s essential to ensure your child’s long-term security. At Special Trust Legal, located near Franklin County, MO, we offer compassionate and knowledgeable legal services focused on providing families with the peace of mind they deserve. With extensive experience in both special education and law, Jennifer A. DiCarlo ensures the process is smooth, supportive, and efficient.
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Create a customized special needs trust that safeguards your child’s future
Planning for Financial and Personal Security as Your Child Transitions to Adulthood
The transition to adulthood presents unique challenges for children with special needs and their families. As the support provided in the school environment diminishes, families in Franklin County face the need to secure ongoing care and financial stability. Preparing early with a thoughtful life plan can provide continued support for your child’s evolving needs and aspirations.
This proactive approach addresses immediate concerns while establishing long-term security. Considerations often include housing, employment, and social engagement. One of the most critical elements of any plan is the creation of a special needs trust, designed to safeguard your child’s future without risking access to public benefits.
Establishing Special Needs Trusts to Protect Eligibility for Public Benefits
Special needs trusts are crucial tools for preserving access to public benefits, ensuring your loved one’s financial stability while maintaining eligibility for essential programs. Families in Franklin County often use these trusts to cover additional expenses without jeopardizing public benefits such as Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI).
Supplemental Security Income (SSI)
SSI is a needs-based program providing financial support to individuals with disabilities. If your child receives SSI, it’s critical to structure any inheritance or financial gifts carefully to avoid disqualifying them from this essential benefit.
Social Security Disability Insurance (SSDI)
SSDI provides monthly benefits based on the individual’s work history or their parent’s eligibility if they were disabled during childhood. Unlike SSI, SSDI doesn’t have strict income or asset limits, but planning around these programs still requires care to ensure maximum benefit.
MO HealthNet: Medicaid Assistance for Disabled Individuals in Missouri:
MO HealthNet covers essential medical costs for individuals who are permanently disabled, or blind/visually impaired and at least 18-years-old. Ensure your loved one can access these crucial benefits, while preserving financial resources through strategic special needs planning.
Medicare and Medicare Savings Program:
Medicare is a federal program available to individuals with disabilities who have received Social Security Disability Insurance (SSDI) benefits for at least 24 months. Additionally, the Medicare Savings Program (MSP) offers assistance to Missouri residents who meet income and asset guidelines, covering costs such as Medicare premiums, deductibles, and coinsurance copays.
Accessible Housing and Veterans' Disability Benefits:
Missouri’s Section 811 Project-Based Rental Assistance (PRA) Program offers accessible and affordable housing for low-income individuals with disabilities, aged 18 to 61. For Veterans, VA disability compensation provides monthly, tax-free payments for service-related disabilities, including physical and mental health conditions like PTSD.
Types of Special Needs Trusts
When planning for your loved one’s future, it’s important to understand the different types of special needs trusts available.
First Party Special Needs Trusts
Funded with the beneficiary’s own assets, such as from an inheritance or settlement, these trusts are designed to comply with income restrictions for public benefits. They provide a way to supplement government assistance while focusing on the child’s unique needs.
Third Party Special Needs Trusts
These trusts are funded by parents, grandparents, or other relatives. They offer flexibility in managing assets while protecting access to public benefits. Creating a third-party special needs trust in Franklin County is an effective way to ensure your child’s needs are met without compromising government support.
Choosing the Right Special Needs Trustee
The trustee of a special needs trust plays a key role in managing the assets and ensuring they are used in the best interest of your loved one. Special Trust Legal helps Franklin County families make this critical decision with confidence.
Selecting a Trustee
While it might seem natural to choose a family member as trustee, this role can be complex and sometimes better handled by a third-party professional. Attorneys and professional trustees have the experience and objectivity needed to manage the trust effectively while minimizing potential conflicts of interest within the family.
A professional trustee can also offer stability and continuity in managing the trust, particularly when family dynamics change over time. Their experience can provide reassurance that your child’s future will remain secure.
Supporting Your Child’s Rights and Anticipating Future Needs
A good trustee doesn’t just manage the trust—they are also an advocate for your child’s well-being. At Special Trust Legal, we emphasize the importance of a holistic approach, ensuring the trustee understands your child’s unique needs and works closely with caregivers, medical professionals, and social service providers.
Jennifer DiCarlo is dedicated to helping Franklin County families select the right trustee and guiding them through their responsibilities once they begin serving in that role.
Utilizing ABLE Accounts for Flexible Financial Management
ABLE (Achieving a Better Life Experience) accounts are another option for families looking to save for disability-related expenses. These tax-advantaged accounts allow individuals with disabilities to manage funds for expenses like housing, education, and transportation without affecting eligibility for public benefits. ABLE accounts offer flexibility and can complement a special needs trust by giving your child more control over their financial resources.
Start Planning for Your Child’s Future Today
Don’t wait for a crisis to start preparing for your child’s future. At Special Trust Legal, we are here to help families in Franklin County protect their loved ones with thoughtful, personalized legal strategies. Jennifer DiCarlo is committed to ensuring that your child’s needs are met today and in the future.
Book a call with Jennifer A. DiCarlo
Secure your child’s future with comprehensive special needs planning
Don’t wait until an emergency happens – be prepared with a little help from Special Trust Legal.