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Special Needs Trust

Sarasota Lawyer Creates Plans to Support Relatives with Special Needs

Sensitive and secure estate planning for your disabled family members

Parents and grandparents of disabled children face difficult questions about the future. Addressing the financial concerns of special needs family members can be a challenge, but effective solutions do exist. Teresa K. Bowman, P.A. in Sarasota works closely with clients who seek to provide financial support to loved ones without affecting their eligibility for government assistance. By crafting personalized legal instruments, I can relieve your stress and build a strong foundation for your loved one’s future.

Knowledgeable adviser addresses your specific concerns

As an elder law attorney with more than 10 years of experience in estate planning, I offer insights on reliable ways to assist your disabled loved one now and in the future. Your options can include:

  • Third-party trust — This is a type of trust you create with your funds for the benefit of your loved one with special needs. The trust can pay an allowance that enhances your loved one’s standard of living without threatening eligibility for Medicaid and Supplemental Security Income benefits. When a beneficiary dies, assets from these instruments are not subject to the payback provision from Medicaid. You can establish a third-party trust through your will, so it goes into effect at your passing, or you can set it up during your lifetime for present or future use.
  • Self-settled trusts — In cases where an intended beneficiary has their own funds, a parent, grandparent, guardian or the court can create this type of trust. This is a common method of dealing with a personal injury damage award, where an accident has left a loved one in need of lifelong care. If assets remain in the trust after the beneficiary’s death, the government can attach those funds to satisfy a Medicaid lien.
  • Pooled trusts — A pooled trust is a fund established and operated by a nonprofit organization for the benefit of those with special needs. Pooling the assets allows the trust to afford more professional management and to make more stable investments, but each beneficiary maintains a separate account. Beneficiaries remain eligible for government benefits, and assets remaining in the trust after their death revert to the government to satisfy Medicaid liens.

Trusts are very flexible instruments that you can tailor to your specific needs. I work closely with you to create a trust that achieves your goals for your loved one. If you have questions or concerns about other issues associated with special-needs trusts, or your own long-term planning, I am ready to offer knowledgeable, compassionate help.

Contact a dedicated Florida lawyer for assistance with a special needs trust

Teresa K. Bowman, P.A. advises people in Sarasota and Manatee counties on the creation and administration of special needs trusts. Please call 941-735-5200 or contact my office online to schedule an appointment.

Awards & Achievements
Reviews & Ratings
  • google
    5.0/5.0

    Making end of life plans is never easy, but Teresa Bowman and her staff were efficient and compassionate. I highly recommend them for eldercare planning.

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    Sondra Nagar

  • lawyers
    5.0/5.0

    I have been a client of Teresa Bowman for several years and feel so secure knowing I can rely on her and her associate, Rachel Schadt, to guide me through the many legal issues involved with estate planning and my care as I get older. I feel confide...

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    Client

  • lawyers
    5.0/5.0

    Her office was very competent in handling our problem with finding treatment for a 100 year old woman who needed financial and health care with living arrangements.

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    Client

  • google
    5.0/5.0

    I can't say enough good things about Teresa and her office. Mom had a tragic fall in Ohio and we had to air ambulance her to Florida. All of the Ohio documents had to be redone. From the initial meeting, she and her office were very thorough, orga...

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    jan reimer

  • google
    5.0/5.0

    Our family experience with the Teresa Bowman practice has been exemplary! Professionalism and empathy beyond words. A personal and professional gift at this time in our world and our immediate family lives. Gratitude and confidence shall be ongoing!

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    Debra Ruppert

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News
  • "The National Elder Law Foundation (NELF) – the only organization approved by the American Bar Association to offer certification in the area of elder law, has announced that Teresa K. Bowman, Esq., of Sarasota has successfully completed its examination leading to such certification."

  • "I am pleased to announce that I have joined the firm of McLin Burnsed, based in Leesburg and in The Villages Community, as an attorney of counsel. McLin Burnsed has maintained a presence in the Leesburg and Villages area for over 45 years and are expanding their practice to include Elder Law."

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