Kane County Lawyers for Special Needs Trusts

Estate Planning Attorneys Serving Clients in South Elgin and St. Charles IL

Generally, those who are disabled are eligible for governmental benefits including Medicaid and Supplementary Security Income (SSI). If a relative or loved one were to leave a disabled individual a gift or inheritance, it may jeopardize their ability to remain within the limitations for continued program eligibility. Special Needs Trusts, also referred to as Supplemental Needs Trusts, are established to allow disabled individuals to accrue assets and income without reducing their SSI benefits or Medicaid eligibility. The law does not allow disabled people to maintain their own trusts; therefore, a trustee is designated to manage the account.

It is important that you entrust your loved one's care with a skilled and compassionate attorney. The lawyers at Ariano Hardy Ritt Nyuli Richmond Lytle Goettel, P.C. (AHR) have assisted clients in Kane County for over three decades.

Defining Disabled in South Elgin and Huntley, IL

Illinois defines someone as disabled (or with a disability) as a person who is impaired either mentally or physically which substantially restricts significant life activity. In a special needs trust, the disabled individual is the beneficiary (or recipient) and has legally recognized special needs which extend further than simple limitations in handling financial matters.

What Can Be Funded by a Special Needs Trust

A special needs trust is designed to supplement the needs that the beneficiary does not receive through programs for the disabled provided by the government, which includes housing, food, and clothes. Ideally, the trust should afford the disabled person to have an improved quality of life based on their circumstances which may be aided by funds for:

• Dental or medical expenses requiring out-of-pocket payment
• To provide for a special diet
• For recreation and entertainment including trips, events, exercise, and electronics
• Educational services
• Transportation
• Spiritual and religious involvement
• Personal assistance, care, and household furnishings

National Achieving a Better Life Experience (ABLE) Program

ABLE was originated at the federal level as a savings program with tax advantages that assists disabled individuals and their families or caretakers with related expenses. Illinois recently joined 14 other states as a partner in the ABLE Alliance, and the program is administered by the Illinois State Treasury. It is designed to allow for beneficiaries to receive up to $14,000 annually, without the risk of losing government benefits such as SSI, Medicaid, etc. These ABLE accounts may contain savings of up to $100,000. Allowable expenses include education, transportation, training for employment, legal expenses, services for managing financial matters, health and wellness, and funeral expenses.

Kane County Lawyers for Special Needs Trusts

If you have a disabled loved one who receives governmental benefits including Medicaid, food assistance, or SSI, it is important to provide them with financial assistance to improve their quality of life. Gifts or inheritances directly given to an individual can risk making the person ineligible for necessary benefit programs. The law firm of AHR assists clients with implementing estate planning tools such as special needs trusts for disabled family members. Contact our office today at 847-695-2400 to discuss how we can help in Elgin, South Elgin, St. Charles, Huntley, and Kane County.