Special Needs Trusts

Special Needs Trust Attorney in Connecticut

There are unique problems associated with an estate plan that takes into account the needs of a legally disabled child or vulnerable adult. A special needs trust is an estate planning tool that protects a family member's eligibility for government benefits. This trust provides them with additional income that does not affect eligibility for state or federal aid, and helps them maintain a more comfortable life.

Many people are unsure what options they have to protect their family member's inheritance and their public assistance eligibility. A special needs trust is an alternative to simply omitting a family member from your will. At the law office of John M. Gasidlo, Esq., we will educate you about the options related to planning for the finances of a disabled family member. We will create a special needs trust that protects a family member's standard of living and their public assistance eligibility. To learn whether this is an appropriate tool for you, contact our office in Westport, Connecticut.

There are special considerations associated with creating a special needs trust. Unlike other trusts, the state must approve a special needs trust to make it valid. It must be drafted in a certain way to maintain government eligibility. Another major concern of a special needs trust is determining how you will fund it. The state may seek to acquire remaining funds to repay any public assistance received by your family member.

Proceeds from your life insurance are now part of your taxable estate and subject to estate tax. Second to die life insurance is a type of life insurance that pays death benefits only upon the death of the last surviving insured parent. This type of life insurance is designed to reduce estate taxes and provide for your child’s needs. It transfers your right to the proceeds of a life insurance policy to another individual, thus removing your estate's tax liability.

Special needs trusts and second to die life insurance policies are essential tools in estate planning. To learn more, contact us at the law office of John M. Gasidlo, Esq. for an appointment with an experienced estate planning lawyer. We represent clients throughout Connecticut, including people in New Canaan, Fairfield, and Norwalk.