Houston Special Needs Trust Attorney by Whitney L. Thompson
Welcome to the Law Office of Whitney L. Thompson, PLLC YouTube channel. Today’s video is an essential guide for parents and caregivers of children with special needs, focusing on how Special Needs Trusts can secure their future while preserving their eligibility for vital government benefits like Social Security and Medicaid.
The Law Office of Whitney L. Thompson, PLLC | Houston Estate Planning Attorney
4201 Farm to Market 1960 Rd W Suite 219, Box # 116B, Houston, TX 77068
(281) 214-0173
https://www.wthompsonlaw.com/houston-special-needs-trust-attorney/
Navigating the complexities of special needs planning in Houston can be challenging. At the Law Office of Whitney L. Thompson, we are committed to helping you understand the rules and procedures that protect your loved ones’ access to necessary financial and medical support. In this video, attorney Whitney L. Thompson will walk you through the various aspects of Special Needs Trusts and how they can benefit your family.
Special Needs Trusts, also known as supplemental trusts, play a critical role in managing funds and assets for a family member with disabilities without jeopardizing their government benefits. These trusts ensure that received money, whether from an inheritance or a settlement, does not disqualify them from programs like Medicaid, which requires recipients to have limited assets and income.
We will explore the differences between Third-Party Special Needs Trusts and First-Party Special Needs Trusts:
Third-Party Special Needs Trusts are created by someone other than the beneficiary, typically a parent or grandparent. This trust can be established through a will and allows other family members to contribute, ensuring that the loved one’s care continues seamlessly without affecting their eligibility for public benefits.
First-Party Special Needs Trusts are funded with the beneficiary’s own assets, usually established after receiving a significant amount of money through an inheritance or a legal settlement.
Another important aspect we cover is Support Trusts. Unlike Special Needs Trusts, these require trustees to manage funds more strictly, often covering direct expenses such as food and shelter, which can affect benefit eligibility.
Whitney L. Thompson will also provide insights into how these trusts are structured to comply with current laws and ensure that your loved one receives continuous care throughout their life. Our discussion will include practical steps on setting up a trust, including the critical role of a trustee or guardian and common misunderstandings that can occur between family members.
If you are considering a Special Needs Trust, or if you are uncertain about the current arrangements you have in place, this video will provide you with the knowledge to make informed decisions. Special needs planning is not just about legal documents; it’s about ensuring a secure and stable future for those who depend on us the most.
For families in Houston looking to start or update their special needs planning, contact the Law Office of Whitney L. Thompson to schedule a consultation. We understand the importance of your role as caregivers and guardians, and we are here to support you with sound legal guidance every step of the way.
Thank you for watching. Please subscribe to our channel for more helpful videos, and don’t hesitate to reach out to us with your questions and concerns. Your family’s well-being is our priority, and we are here to help you protect it.
Contact us today at (281) 214-0173 to learn more about how we can assist you with your special needs planning needs.
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