Special Needs Trusts And Planning Lawyers Serving Florida And Georgia
Caring for a loved one with a disability brings real uncertainty about their future, and you want to provide for them without risking the benefits they depend on. At Heuler, Wakeman, Solomon Law Group, P.L.L.C., our team brings over 60 years of combined legal experience to every matter we handle. That means you can plan your loved one’s future with confidence.
Understanding Special Needs Trusts
A special needs trust (SNT) is a legal tool that holds and manages assets for someone living with a disability. Its purpose is to supplement that person’s care while keeping them eligible for government programs like Supplemental Security Income (SSI) and Medicaid. The type of SNT that fits your family depends on the source of the funds:
- First-party trust: This trust uses the beneficiary’s own assets, such as a settlement or inheritance, and requires a Medicaid payback provision at the beneficiary’s death.
- Third-party trust: Family members or loved ones fund this trust, and it carries no Medicaid payback requirement.
- Pooled trust: A nonprofit organization manages this trust and keeps a separate account for each beneficiary.
Our attorneys can help you choose the right trust for your family.
Florida ABLE Accounts And How They Work
An Achieving a Better Life Experience (ABLE) account is a tax-advantaged savings account for people with qualifying disabilities. Florida’s ABLE United program lets account holders save for disability-related expenses, including housing, education, transportation and medical care, without losing SSI or Medicaid eligibility.
Florida’s ABLE United accounts cap annual contributions at $20,000, and a balance above $100,000 begins to affect SSI eligibility. Employed account holders may contribute additional funds above the annual limit.
To open a Florida ABLE United account, your loved one must be a Florida resident with a qualifying disability with onset before age 46. Moreover, they must meet one of these requirements:
- Receive SSI or Social Security Disability Insurance (SSDI) benefits
- Have a condition on the Social Security Administration’s Compassionate Allowances list
- Have a physician-certified disability that meets Social Security Administration standards, if not enrolled in SSI or SSDI
Providing for your loved one’s financial future requires the right tools. Our attorneys look at the full picture before recommending any approach, and we help you build a plan that protects your loved one for years to come.
Let Us Help You Protect The People Who Matter Most
The right plan turns that uncertainty into something your family can count on. Since 2013, Heuler, Wakeman, Solomon Law Group, P.L.L.C., has guided families across North Florida and Georgia through special needs planning. Call our office at 850-792-8496 or reach out to us online to schedule your consultation.