Special needs trusts are designed to help families address the financial needs of disabled loved ones. Through establishing special needs trusts, individuals with physical or mental disabilities or a chronic illness can obtain certain benefits covering their long-term care.
A special needs trust can be established to protect the assets set aside for individuals with a disability. To qualify, individuals must be developmentally disabled or have a mental or physical impairment. At the Law Firm of JEFFREY BURR, our firm's estate planning attorneys have extensive experience working with clients to establish two types of special needs trusts:
First-party special needs trusts — Our legal team represents disabled individuals looking to set up an irrevocable trust with their own assets. This type of special needs trust is often established with money from an inheritance, a gift, or a personal injury settlement. We offer a strong background developing first-party special needs trusts for disabled individuals under 65.
Third-party special needs trusts — At the Law Firm of JEFFREY BURR, we have experience establishing irrevocable and revocable trusts for individuals with special needs. Typically, third-party special needs trusts are funded by parents or relatives with loved ones who have special needs. This type of trust has no age restrictions and is designed to enrich the beneficiary's life, while preserving their access to governmental benefits.
At the Law Firm of JEFFREY BURR, we are committed to helping clients set aside assets in special needs trusts without sacrificing their eligibility to obtain benefits. This is a highly complicated area of the law. We will apply our years of experience and legal skills to develop special needs trusts based on the best interests of you or your loved one.
We are committed to helping clients establish special needs trusts. Contact our law firm today to schedule a consultation Monday through Friday from 8 a.m. to 5 p.m. Our firm's attorneys are also available to meet with clients in the evening, weekends and off-site by appointment.
We offer free 30-minute trust or Will consultations at our office locations in Henderson and Las Vegas.