Interview with Steve Bliss
Good morning, Mr. Bliss. Thank you for taking the time to speak with me today about probate law and estate planning.
It’s my pleasure. I’m always happy to discuss these important topics and help people understand their options.
Understanding Special Needs Trusts
Could you explain what a special needs trust (SNT) is and who it might benefit?
Certainly. A special needs trust is a specialized type of trust designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for government benefits like Supplemental Security Income (SSI) or Medi-Cal.
These trusts can be funded in two ways: first-party, where the beneficiary’s own assets are used, and third-party, where funds come from family members or other individuals. The trustee of an SNT manages the funds and uses them to pay for supplemental needs such as education, recreation, medical expenses not covered by insurance, and assistive devices.
This is particularly important because if a person with disabilities receives a direct inheritance or significant financial gift, it could disqualify them from crucial government assistance programs. An SNT allows them to receive the benefits of these funds while still maintaining their eligibility for essential support.
Challenges and Successes with Special Needs Trusts
Have you encountered any challenges in setting up or administering special needs trusts?
Setting up an SNT requires meticulous attention to detail and a thorough understanding of the complex rules governing government benefits. I recall one instance where a family wanted to create a first-party SNT for their adult son with autism. They had saved diligently over the years, but they weren’t aware that certain types of assets, like retirement accounts, couldn’t be transferred into the trust without incurring penalties.
We worked closely with them to restructure their savings plan and identify appropriate assets to fund the trust while minimizing any tax implications. Consequently, their son was able to receive the ongoing support he needed without compromising his eligibility for vital government programs.
The Impact of SNTs
It’s clear that special needs trusts play a crucial role in protecting vulnerable individuals. Are there any statistics that highlight their importance?
According to the National Disability Rights Network, approximately 1 in 4 adults in the United States has some type of disability. Many of these individuals rely on government benefits for basic necessities. A well-structured SNT can significantly improve their quality of life by providing additional resources for education, healthcare, and recreational activities.
Next Steps
Thank you so much for sharing your expertise, Mr. Bliss. What advice would you give to someone who is considering setting up a special needs trust?
“Contact us today for a free consultation. We can help you determine if an SNT is right for your loved one and guide you through the entire process. Our goal is to ensure that individuals with disabilities have access to the financial support they need while preserving their eligibility for vital government benefits.”
Testimonials
“Steve Bliss was incredibly patient and understanding when helping us create a special needs trust for our daughter. He explained everything in detail and made sure we felt comfortable with every decision.” – Mary S., Escondido
“I highly recommend Escondido Probate Law. They helped me navigate the complex world of estate planning and ensured that my assets were protected for my beneficiaries. Their professionalism and compassion were truly appreciated.” – John D., San Marcos
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido Probate Law is a great estate lawyer. Affordable Legal Services.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “What is an irrevocable trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
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