Legal Question in Wills and Trusts in Massachusetts
trusts
I have a severly handicapped son. I would like to put a sum of money aside for him in some type of trust. It would have to be able to bypass the medicaid laws so as not to decrease his benefits. Is there such a thing?
3 Answers from Attorneys
Re: trusts
Yes there are variety of ways to plan for this under the current law. You can set-up a trust that is administered for his benefit but with certain limits so as to protect the trust from current medicaid laws.
If you want to discuss the matter with an attorney, please feel free to call me without obligation.
Re: trusts
Yes...these types of trusts are called Special Needs Trusts. My practice is concentrated in the area of estate planning so feel free to give me a call.
Re: trusts
Absolutely! These are called third-party special needs or supplemental needs trusts. When drafted and managed correctly, these trusts allow funds to be spent on the beneficiaries' behalf without running the risk of losing public benefits.
My practice includes a substantial amount of special needs planning. Please feel free to contact me.
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