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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.

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Reviews & Ratings
  • lawyers
    5.0/5.0

    Teresa Bowman and her entire team were very easy and pleasurable to work with. Every question was answered in an non-condescending manner and discussed thoroughly in layman's terms.

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    Client

  • lawyers
    5.0/5.0

    Teresa K. Bowman, P.A. is both professional and personable. Her expertise and experience are invaluable. Her ability to understand my needs and her patience in communicating made working with her very worthwhile.

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    Client

  • lawyers
    5.0/5.0

    Teresa knows her stuff. My parents have been working with Teresa's practice for a number of years and I have recently been taking over their financial management. She has been patient, personable, and insightful in helping me assume this new role...

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    Client

  • lawyers
    5.0/5.0

    I have referred multiple clients to Teresa over the past few years and I have received positive feedback from each client in regards to how Teresa was able to handle their specific situation. She is able to make a complicated process easy and always ...

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    Client

  • lawyers
    5.0/5.0

    My wife and I went to Teresa for our wills, Power of attorney and medical directives. She made a difficult process almost seamless and now I have the peace of mind if anything happens to me or my family we are protected. I highly recommend her and h...

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    Client

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