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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
  • lawyers
    5.0/5.0

    Rachel was absolutely the best! She was very professional and very compassionate with our case. She was very reliable and always returned our phone calls or emails promptly. She explained everything to us step by step. She went above and beyond he...

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    Client

  • lawyers
    5.0/5.0

    Everyone in the office is so pleasant and does everything they can to accommodate your schedule. I worked with Rachel. She was very good and patient when explaining anything that was unclear. I felt I was in good hands. Teresa Bowman was recommended...

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    Client

  • lawyers
    5.0/5.0

    I chose this attorney based on reviews in a neighborhood website. I needed her services to make sure my father’s will from another state, would be valid here in Florida. The attorney clarified what legal issues could be encountered and explained in...

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    Client

  • google
    5.0/5.0

    In trying to deal with the complicated process of applying for and obtaining Medicaid, Teresa and her staff were very professional. The initial consultation and then the entire process went smoothly. Every step of the way was explained to me. Each ti...

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    Steve Joselson

  • lawyers
    5.0/5.0

    In trying to deal with the complicated process of applying for and obtaining Medicaid, Teresa and her staff were very professional. The initial consultation and then the entire process went smoothly. Every step of the way was explained to me. Each ti...

    Read more

    Client

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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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