Lake Norman Special Needs Planning Attorney
Special Needs Planning with Experience and Care in Cornelius & the Greater Charlotte Area
Special needs planning in Cornelius begins with a family that cares about their family’s future – even after they’re gone. If you have a loved one with special needs, you should evaluate the larger picture. A bequest could cause more harm than good if you don’t pass along your resources in the right way.
Government Benefit Eligibility
Many people in the Cornelius, North Carolina and surrounding areas have disabilities and rely on Medicaid. This health insurance coverage is helpful because insurance may not otherwise be available. You may already know that Medicaid is a need-based program. That means that its availability is limited to those with meager resources.
Many individuals with disabilities who qualify for Medicaid also receive Supplemental Security Income (SSI). As the name would indicate, this is a modest source of income for people who are eligible.
Once you qualify for these programs, your eligibility is not permanently etched in stone. A significant improvement in your financial status can cause a loss of eligibility. This is why it takes informed planning to provide for a person with special needs.
Supplemental Needs Trust
Fortunately, there is an ideal solution in the form of a supplemental needs trust. You will sometimes see these trusts referred to as “special needs trusts.”
To implement this approach, you draw up the trust, name a beneficiary, and convey assets to the trust. Once you take those steps, the trust becomes the owner of the property, and the person that you are helping out will be the beneficiary.
Under the rules of these government programs, assets in the supplemental needs trust can be used to satisfy the unmet needs of the beneficiary. However, the beneficiary never owns the assets, so government eligibility is not negatively impacted.
Additional helpful information: Consider a Supplemental Needs Trust
Decades of Experience
Helping Clients Protect What Matters Most
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Recognized Leaders
Our legal affiliations reflect our commitment to advanced training, ongoing education, and elevated estate planning standards.
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Convenient Office LocationsWith multiple office locations and flexible virtual meeting options, we make it easy to meet in the way that works best for you.
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Education-First Approach
We believe you should fully understand the documents you sign. Our team takes the time to explain your options and ensure you leave with confidence, not confusion.
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Law Made Simple
We’ve built a streamlined, guided process that makes legal documents easier than you think. We offer flexible virtual meetings and clear next steps at every stage.
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Educational Resources and Supportive GuidanceWe provide educational resources to help you understand your options and make informed decisions.
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Comprehensive Protection for Your Future and LegacyThe firm guides clients to ensure both peace of mind and meaningful protection for loved ones.
A Reputation Built on Trust and Results
You Deserve Honesty, Dedication, and Strong Legal Advocacy
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