Special Needs Trust Attorney in Houston

Last updated on August 20, 2024

Caring for someone with special needs is rewarding, but it can come with many challenges. I am attorney John Elliott of Elliott Estate Law, PLLC, and I know you have fears about your disabled loved one’s future.

I will work with you one-on-one to create estate tools that protect all your family members now and after you are gone. With my 15-plus years of estate planning experience, I can help you continue providing for your loved one, no matter what life holds.

Introduction To Special Needs Trusts

A special needs trust is a legal arrangement that provides financial support to individuals with disabilities. The grantor (trust creator) establishes the trust and funds it by transferring assets into the trust.

It allows the disabled person to receive an inheritance while remaining eligible for programs like Medicaid and Supplemental Security Income (SSI).

Types Of Special Needs Trusts

You have three options for a special needs trust, each serving different purposes based on the funding source and beneficiary needs.

• First-party special needs trusts: Funded with the beneficiary’s assets and often used when they receive a settlement or inheritance
• Third-party special needs trusts: Funded by someone other than the beneficiary, such as parents or grandparents
• Pooled special needs trusts: Trusts managed by nonprofits, pooling resources from multiple beneficiaries for investment purposes

These trusts offer an effective means of addressing circumstances where a beneficiary is not capable of making financial decisions.

Creating A Special Needs Trust

Establishing the trust involves several steps to ensure it meets your needs and aligns with Texas law. Creating the trust document and funding it with asset transfers are just two steps to consider.

I am a certified estate planning and probate specialist, but I am also a certified financial planner. That means I provide a comprehensive approach, skillfully addressing your economic and other concerns.

Call For Compassionate Guidance

Work directly with an estate planning lawyer to create a customized special needs trust that accounts for your loved one’s lifestyle and future needs. Call my Houston office at 713-936-4264 to schedule a consultation and build a brighter future for your entire family.