If you or a loved one has special needs, call on Davis and Davis to advocate for your family’s rights. With decades of experience, Charles G. Davis understands your challenges.
Special needs trusts, also referred to as supplemental needs trusts, are essential in planning for the future. This is especially important for a family of a child with special needs.
Special needs trusts benefit children with special needs by protecting assets and retaining public benefits. The funds and income they hold are not considered assets and income of an individual who receives public benefits.
When Your Special Needs Child Turns 18
When a child with special needs turns 18, he or she may continue to receive needs-based benefits such as Medicaid and Supplemental Security Income. The funds in the trust can be used to increase the quality of your child’s life.
Establishing a Special Needs Trust
Special needs trusts allow families and trustees to hold funds to benefit individuals who cannot manage money on their own. A Special Needs Trust can shelter the individual with special needs own assets and income or the assets that parents and family members wish to set aside for the individual. Establishing a special needs trusts can be quite complicated. There are many considerations regarding public benefits, tax implications, and the impact of the trust on a family’s overall financial and estate plan. Charles G. Davis will take the time to understand your needs and provide you with comprehensive advice throughout the process.
Charles G. Davis has extensive knowledge of special needs trusts and special needs law. He has successfully represented the rights of special needs children and their families throughout New York for decades. He will help you develop a sound financial plan that will work for you and your family.