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Estate Planning explained
Estate Planning

Estate planning explained

New York Estate Planning: A Comprehensive Guide for 2025 Estate planning, a vital aspect of responsible adulthood, involves preparing for the management and distribution of

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Child & Estate Planning
Estate Planning

Child & Estate Planning

Protecting Your Children’s Future: Child and Estate Planning in New York As a parent, securing your children’s future is paramount. This extends beyond providing love

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Probate attorney near me in New York 2025
Estate Planning

Probate attorney near me

Navigating Probate in New York: Finding the Right Attorney Near You (2025) Probate, the legal process of administering a deceased person’s estate, can be complex

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Wills vs. Trusts in NYC: Choosing the Right Estate Plan for You
Estate Planning

Wills and Trusts NYC

Wills vs. Trusts in NYC: Choosing the Right Estate Plan for You Regarding estate planning in New York City, a fundamental decision arises: Will a

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Protecting yourself and your partner
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Protecting yourself and your partner

Protecting Yourself and Your Partner: A Comprehensive Guide to Estate Planning in New York At Morgan Legal Group, we understand the complexities involved in safeguarding

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The importance of a living will
Estate Planning

The importance of a Living Will

Why a Living Will Matters in NYC: Your 2025 Guide As we move further into 2025, advanced healthcare planning has become more critical than ever,

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Medicaid Trust NYC
Estate Planning

Medicaid Trust NYC

Medicaid Trusts in NYC: Safeguarding Your Assets from Long-Term Care Costs For residents of New York City, planning for long-term care is a critical component

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Probate Lawyer Cost
Probate

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Understanding Probate Lawyer Costs in NYC: A Clear Guide When facing the daunting task of estate administration in New York City, one of the first

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Estate Planning in NYC
Estate Planning

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Living Trusts in NYC: Your Expert Guide
Estate Planning

Living Trusts in NYC

Living Trusts in NYC: Your Expert Guide For New York City residents, planning for the future and securing your legacy is critical. Estate planning, therefore,

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Digital Estate Planning in New York
Asset Protection

Digital Estate Planning NY

Securing Your Digital Legacy: Digital Estate Planning in New York In today’s increasingly digital world, our lives extend far beyond the physical realm. We conduct

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Medicaid Planning and Asset Protection
Asset Protection

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Living Trust Queens
Estate Planning

Living Trust in Queens

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It’s sad having a child disabled from birth. Even into adulthood, such an individual may still require financial support to be able to attain a considerable standard of living. And it is your wish to provide for them.

Typically, people with special needs in Buffalo, New York and most other states qualify for public benefits, including Medicaid, Supplemental benefits, etc. These benefits usually cover cost of healthcare and other supplemental needs, excluding housing, luxury, etc. But the problem is that one may only qualify if they have a highly limited income source. So if you bequeath funds outright to your disabled loved one, you may ruin their eligibility since the funds you pass will be counted as income. The bequeathal will then be used more or less like a replacement to Medicaid. You clearly don’t want this, which is why you need a Special Needs Trust Lawyer Buffalo NY.

What is a special needs trust?

A special needs trust is a special kind of irrevocable trust used to hold assets for a disabled individual while still making them eligible for public benefits. You will name a trustee who manages the assets on behalf of the beneficiary (the disabled).

So when the child attains 18 year of age, they would be receiving Supplemental Security Income (SSI), Medicaid and other benefits for their basic needs, while the funds from the trust can be used for other needs.

Trusts are complex estate planning documents so you would need expert help from a special needs trust lawyer in Buffalo. We can help you. Simply contact our law office today.

What can the funds in a special needs trust be used for?

The beneficiary of a special needs trust can only use the funds to pay for expenses not covered by Medicaid and SSI, such as:

  • Wheelchair
  • Special therapies
  • Mechanic beds
  • Recreational activities to add quality to your child’s life.

The funds cannot be used for basic needs such as food and shelter, else their eligibility for SSI may be compromised since the funds would therefore be considered income.

Special needs trust funds should not be used for the following expenses:

  • Housing
  • Groceries
  • Direct cash to the beneficiary
  • Regular restaurant meals
  • Property tax.

Sine it’s not always easy to discern what to use funds in a special needs trust for, it’s important to seek guidance from a special needs trust lawyer.

Requirements of a special needs trust in Buffalo, NY

You must be very clear in writing the terms of your trust. Special needs trusts cannot be revoked (they are a type of irrevocable trust) so you want to be sure you state explicitly in legally recognized terms how the assets will be used for your disabled loved one. This is all the more reason you should get help from an experienced special needs trust lawyer.

The trust must also conform to all Buffalo requirements for validity.

You must establish the document before the beneficiary reaches the age of 65 (the age of Medicaid eligibility).

As the trustor, you must designate a trustee who will have authority over the trust assets. This person is bound by fiduciary duty to always act in the best interest of the beneficiary.

Note that assets placed in a special needs trust by someone other than the disabled are not subject to Medicaid’s repayment rules or look back period of 5 years. But the disabled person’s assets placed in a trust may be subject.

Advantages of having a special needs trust

  • Your loved one will then be able to purchase technology to aid their disability, such as quality wheelchair or hearing aids while still receiving Medicaid for their healthcare costs and basic expenses.
  • You have the assurance that the proceeds of the trust will go in for expenses you specify. You would not worry that the funds will be used only for healthcare costs which Medicaid should handle.
  • By funding assets into a special needs trust, they become unreachable by your creditors. So even when you have debts more than you have assets, you can provide for your loved one without the assets getting seized.

Special Needs Trust Lawyer near Me Buffalo, NY

Our lawyers care about your peace of mind and the welfare of your loved one. Let us help you to help them. Call us today.

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