Do I Need an Attorney to Set Up a Special Needs Trust?

Whether you need an attorney to set up a special needs trust is a question many families face. While it is possible to find do-it-yourself resources online, it’s highly recommended to consult with an experienced attorney near you who specializes in special needs trusts and estate planning.

Here’s why:

• Complexity of Laws. Special needs trusts involve complex legal and financial considerations. Regulations vary by state and are subject to change. An attorney ensures compliance and navigates these intricacies.
• Preserving Benefits. A key goal of a special needs trust is to maintain eligibility for government benefits like Medicaid and Supplemental Security Income (SSI). Errors in drafting the trust can jeopardize these benefits. An attorney safeguards the beneficiary’s access to essential resources.
• Customized Planning. Every situation is unique. An attorney can tailor the trust to the specific needs and circumstances of the beneficiary, addressing potential challenges and ensuring long-term protection.
• Avoiding Pitfalls. Mistakes in setting up the trust, such as improper wording or funding, can have significant consequences. An attorney’s expertise helps avoid costly errors and future legal issues.
• Peace of Mind. Working with an attorney offers assurance that the trust is structured correctly and will achieve its intended purpose of providing for the beneficiary while preserving their eligibility for public benefits.

While DIY approaches might seem tempting, the potential risks often outweigh the cost of legal counsel. Consulting an attorney specializing in special needs trusts is a crucial step in protecting your loved one’s future.

For further reading, check out the following Q&A’s:

• Why You Need an Attorney Experienced in Special Needs Trusts
• What Is the Best Kind of Special Needs Trust?
• What Expenses Can’t a Special Needs Trust Pay For?