South Elgin, Illinois Special Needs Trusts Lawyers

Attorneys Helping Establish Trusts for Disabled Beneficiaries in Kane County

Generally, people who are disabled are eligible for government benefits, including Medicaid and Supplementary Security Income (SSI). If a relative or loved one were to leave a gift or inheritance to a disabled person, it may jeopardize their ability to maintain eligibility for these programs. Special needs trusts, which are also referred to as supplemental needs trusts, may be used to ensure that disabled people can utilize assets and receive income without reducing their SSI benefits or Medicaid eligibility.

When addressing disabled family members or loved ones in your estate plan, it is important to take the right steps to protect their interests. You may be planning to leave certain assets to family members with special needs, but you will want to avoid inadvertently causing financial problems by doing so. To ensure that these issues will be handled correctly, you can work with a skilled attorney who understands the applicable laws and the options that are available.

The lawyers at Ariano Hardy Ritt Richmond Lytle & Goettel P.C. can provide you with compassionate legal help as you address estate planning concerns. We have assisted clients in Kane County for over three decades, and we can provide you with effective guidance on the best ways to meet your family's needs. We will make sure you take the correct steps when establishing special needs trusts or using other methods to assist your loved ones.

Defining Disabilities

A person may be considered to be disabled if they have either mental or physical impairments that substantially restrict significant life activities. When establishing a special needs trust, a disabled person can be the beneficiary if they have legally recognized special needs that extend further than simple limitations on handling financial matters.

If you have questions about whether a loved one's condition qualifies as a disability, our attorneys can help you determine whether a special needs trust is right for you. We can also help you understand what other options may be available to address the unique needs of a person who needs assistance.

What Can Be Funded by a Special Needs Trust

A special needs trust is designed to supplement the needs of a beneficiary. Because government programs will provide for basic needs, including housing, food, and clothes, a special needs trust cannot be used for these purposes. Ideally, the trust should be used to help a disabled person improve their quality of life. Funds may be used for:

• Dental or medical expenses requiring out-of-pocket payments
• Special dietary needs
• Recreation and entertainment, including trips, events, exercise, and electronics
• Educational services
• Transportation
• Spiritual and religious practices
• Personal assistance, care, and certain household furnishings

National Achieving a Better Life Experience (ABLE) Program

ABLE was put in place by the federal government as a savings program with tax advantages to assist disabled people and their families or caretakers with related expenses. Illinois is a partner in the ABLE Alliance, and people in the state can participate in a program administered by the Illinois State Treasury. This program is designed to allow beneficiaries to receive a certain amount in contributions annually, without the risk of losing government benefits such as SSI, Medicaid, etc.

ABLE accounts may contain savings of up to $100,000 without affecting a beneficiary's eligibility for SSI. An account may be used to pay for certain types of expenses, including housing, education, transportation, training for employment, legal expenses, services for managing financial matters, health and wellness, and funeral expenses. Our attorneys can help you understand how to use ABLE accounts alongside special needs trusts to provide for the needs of a disabled person.

Contact Our Kane County Special Needs Trusts Lawyers

If you have a disabled loved one who receives governmental benefits, it is important to make sure you follow the correct steps when providing them with financial assistance to improve their quality of life. Rather than giving gifts or inheritances directly, you can use a special needs trust, but you will need to make sure it is created and managed correctly. At Ariano Hardy Ritt Richmond Lytle & Goettel P.C., we can help you use the right estate planning tools to meet the needs of your family. Contact our South Elgin special needs trust attorneys today at 847-695-2400 to arrange a free consultation and discuss how we can assist you.