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Third Party Special Needs Trust

Living trusts are one among the foremost popular estate planning tools people <br>use to preserve their legacy and pass their money and property on to their <br>loved ones. <br>But trust law is often complex and there are some common misconceptions <br>about how living trusts add Michigan. <br>This text will address a number of these common misconceptions to assist you <br>opt if a living trust is true for you.

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Third Party Special Needs Trust

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  1. Third Party Special Needs Trust

  2. Third Party Special Needs Trust www.rochesterlawcenter.com 248-613-0007 543 N, Main St, Ste 222 Rochester MI 48307 rochesterlawcenter.com

  3. Third Party Special Needs Trust • A Third Party Special Needs Trustis a type of Special Needs Trust that can be established for a person with special needs, also known as the beneficiary of the trust, in order to protect their eligibility for government benefits. rochesterlawcenter.com

  4. Why Do You Need A Third Party Special Needs Trust? rochesterlawcenter.com

  5. A Third Party Special Needs Trust is one of the most common types of Special Needs Trusts that families create. • It allows parents to leave behind funds for expenses when they are no longer alive to provide care for their special needs child themselves. • By placing an inheritance in a Special Needs Trust instead of giving it directly to your child, your child never directly owns or touches the money. • The result is that the money you leave behind for your child won’t be counted against their eligibility for government benefits. rochesterlawcenter.com

  6. What Are The Benefits Of A Third Party Special Needs Trust? rochesterlawcenter.com

  7. Properly Leave Behind Inheritance For Special Needs Child Without Hurting Government Benefits. • Supplement Government Assistance To Provide Care That Their Benefits Do Not Cover. • Appoint A Trustee To manage Finance For Your Special Needs Loved One. rochesterlawcenter.com

  8. How Does Third party Special Needs Trust Work? rochesterlawcenter.com

  9. A Third Party Special Needs Trust is a type of irrevocable trust. This means that the trust is permanent and can’t be reversed or dissolved. • Key Parties Involved Are: • Settlor/Grantor • Beneficiary • Trustee rochesterlawcenter.com

  10. How To Set Up A Third Party Special Needs Trust? rochesterlawcenter.com

  11. If you need to create a Third Party Special Needs Trust, you should set up an initial consultation to speak with an experienced Special Needs Trust Attorney. • These trusts are very complicated and you can hurt your loved one’s benefits if it is set up improperly. • Everyone’s situation is unique. • The best way to get customized advice based on your specific situation is to speak with a professional who can make sure your family is properly protected. rochesterlawcenter.com

  12. Next Step… rochesterlawcenter.com

  13. SCHEDULE YOUR FREE Consultation CALL US AT 248-613-0007 TODAY! We offer Phone and Web consultations, in addition to traditional in-office consultations.  Let our staff know that you prefer to “meet” with one of our attorneys in the comfort of your own home via Phone or Web conference and we will get you scheduled based on your preference.  • Free Consultations • No Need To Travel • Do Everything Remotely • No Hidden Fees • Streamlined Processes • Fast, Easy, Stress Free rochesterlawcenter.com

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