Plainfield Third-Party Special Needs Trusts Lawyer

Qualified, Detail-Driven Special Needs Trust Attorneys in Plainfield, Illinois

You have worked hard to build your estate and you need a plan that provides for your loved ones that depend on you. The Davi Law Group provides experienced estate planning guidance for men and women throughout Northern Illinois. If you support developmentally disabled loved ones, you may want to consider setting up a special needs trust.

A trust is a written, signed and witnessed set of legal documents that seek to provide aid to the creator and named beneficiaries. All trusts must comply with Illinois trust laws and should be drafted by a qualified estate planning attorney. Not all attorneys can handle the complexity of estate matters. Our attorneys are qualified to handle and direct estate planning matters and are willing to answer any questions you may have along the way.

Providing Peace of Mind for Clients with Loved Ones That Require Special Needs or Care

A third-party special needs trust is a vehicle to provide care and financial stability for a qualified disabled loved one without exempting them from additional assistance or government-provided benefits such as Supplemental Security Income (SSI) and Medicaid. The Davi Law Group is available to work one-on-one with you to help you determine the best way to structure a trust to suit the needs of your loved one.

As you define the aspects of the trust, you should consider:

• Selecting the best-suited trustee
• Proper allocation of trust funds
• Health care/long term care expenses
• Living arrangements

Thinking carefully about the details of care will provide a complete picture of what is needed to ensure that your loved one will live comfortably. By establishing a trust, you will be able to provide for them, even after you pass away. There are many intricacies in the language and deadlines for establishing a third-party special needs trust. Our attorneys know the specific language and citations to include for creating a legally sound and enforceable plan for the future of your loved ones.

Can I Control How Assets Are Distributed in a Third-Party Special Needs Trust?

The person appointed as trustee over a third-party special needs trust has discretion to allocate the funds as they see fit. The trustee must act in the disabled beneficiary's best interests, as they are held to a legal standard known as a fiduciary duty. If a trustee fails to live up to this duty, they could lose their responsibility to manage the trust.

Having a responsible trustee is important for making sure that the disabled beneficiary is taken care of. At the Davi Law Group, we can work with you to protect your disabled loved one's financial future.

What Are the Benefits of Setting Up a Third-Party Special Needs Trust?

Aside from allowing a beneficiary to remain eligible for government benefits, there are other reasons as to why you might consider setting up a third-party special needs trust. One of the most compelling reasons to consider a third-party trust is that, unlike a first-party trust, you do not have to pay back the government for any benefits paid out to the beneficiary.

Meet With a Plainfield, IL Third-Party Special Needs Trust Attorney

We all have people we want to look out for. At the Davi Law Group, we know just how important it is to make arrangements for your loved ones.Contact our DuPage County, IL estate planning attorneys to get started with planning and establishing a third-party special needs trust today. We offer free in-person consultations to get to know our attorneys and reasonably-priced consultations to discuss your specific needs. From our offices in Wheaton, Plainfield, Naperville, Joliet, and Chicago, we serve clients in DuPage, Will, Kane, Kendall, and Cook Counties, Illinois.