The information contained on this website is for informational purposes only. Sending a contact request alone does not constitute an attorney-client relationship. Nothing on this site is to be taken as legal advice as each case is different and will be handled as such. Ron Suggs is licensed to practice law only in the State of California. 

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Supplemental Needs Trusts and Lifetime Trusts

Supplemental Needs Trust

A Supplemental Needs Trust (or Special Needs Trust) is a trust that is written to add an extra level of protection for your family member with special medical or physical needs.  Your intention is to leave your loved one money and assets to maintain a certain standard of living, the opportunity for travel and additional education.  Sadly however, without a Supplemental Needs Trust, your family member with special needs will be required to use their inheritance to pay for support and medical services until it is gone. 

A Supplemental Needs Trust

  • establishes a trust for your beneficiary that keeps your inheritance separate from other accounts, allowing medical and support services previously established intact and without interruption

  • allows you to name a trustee that will manage the trust

  • allows the inheritance to remain accessible to the beneficiary for vacations, education, personal care attendants, vehicles and other items.

You have cared for your family and worked hard to maintain a full quality life.  A Supplemental Needs Trust will assure that this quality will remain a possibility after you are gone.

Lifetime Trust

Your expectation in writing your trust is to protect your beneficiaries from the extra time, stress and pain of probate.  You want to leave your beneficiaries money and assets that they can use to pay for education, buy a home or start a nest egg for their retirement.  If all goes well, your estate will have an impact on your family for generations to come. 

 

What you aren't planning or expecting is your beneficiary losing half their inheritance as part of a divorce settlement or other financial disputes or more than half to a lawsuit due to an accident or other unexpected lawsuits.

A Lifetime Trust 

  • establishes a trust for your beneficiary that keeps your inheritance separate from other accounts leaving a layer of protection from future lawsuits or financial disputes

  • allows the inheritance to remain accessible to the beneficiary for home purchases, education or other purchases they deem important while the inheritance left in the trust stays protected from other legal issues.

A Lifetime Trust is a unique document added to a living trust that adds an extra level of protection to the inheritance you leave your loved ones.   

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