A special needs trusts allows parents to leave funds to developmentally (Autism, Down Syndrome, or another developmental or intellectual disability) or physically disabled children, but maintain the child’s eligibility for public health care and assistance benefits. A Florida special needs trusts, also called Florida supplemental needs trusts, are vital for parents who need or want to provide for their special needs children.
If a child with special needs has been left an inheritance, he or she may not qualify for benefits…despite being unable to earn a living. A special needs trust holds the assets you wish to leave your child, acting as a supplement to the disabled child’s government resources. When structured properly, funds in these trusts can only be used for goods and services over and above what government assistance provides for the disabled child, and cannot be used as payment for taxes or creditors. The child has no control over the funds.
Carol A. Lawson, Esq., 28870 U.S. Hwy19 #300, Hodusa Towers, Clearwater, FL 33761, Phone: (727) 410-2705 email: email@example.com