Special Needs Trusts (SNTs) can be very important for disabled structured settlement recipients that are right now, or at some point will be, reliant on public/governmental programs including Medicaid and Supplemental Security Income (SSI) to help pay for their basic living and medical expenses over time.

At Quest Settlements, our experienced settlement consultants have worked closely with attorneys and their disabled clients to establish special needs trusts in Los Angeles. As personal injury structured settlements provide tax-free payments that are guaranteed, they are ideal for use in Special Needs Trusts.

Special Needs Trusts in Los Angeles

Quest Settlements helps client set up Special Needs Trust in Los Angeles.

One of the main concerns when it comes to financial settlements for disabled claimants is generally whether the awarded money will disqualify the individual receiving them from collecting needs-based public assistance. In fact, having only a few thousand dollars in certain assets can quite quickly leave a disabled person ineligible for important government programs.

Special Needs Trusts were created to ameliorate this concern, as Federal law allows claimants to receive settlement funds from personal injury cases without those funds being counted against them in determining public benefit eligibility.

In particular, either a portion or the whole personal injury settlement can go into the trust, with those funds being used mainly to complement government assistance and pay for needs not covered with those specific benefits.

Based on the specific laws of the disabled claimant’s state, the funds within the Special Needs Trust can also be used toward needs including nutritional requirements, transportation, rehabilitation, and out-of-pocket medical costs. Claimants may also be able to utilize the money for expenses related to “quality of life” such as a place to live or even a vacation for relaxation & enjoyment.

The settlement consultants at Quest Settlements have a clear understanding of both state and Federal regulations relevant to Special Needs Trusts, and will advise you of what is, and is not, permitted in spending the funds within the trust.

Los Angeles Special Needs Trusts help to assist disabled claimants.

There are various kinds of Special Needs Trusts, each of which has particular requirements and conditions. One type of SNT is for claimants who are disabled and are under the age of 65 at the time at which the trust is arranged. The trust usually consists of settlement funds that are used to help the disabled individual as conveyed above. If the Special Needs Trust funds have not been completely used up by the time the claimant passes away, any money left over goes toward covering Medicaid payments and then is given to those chosen as the claimant’s heirs.

A second type of Special Needs Trust, known as a “pooled trust”, is for disabled individuals that are more than 65 years of age. In spite of the fact that these over-65 claimants cannot take advantage of a conventional Special Needs Trust, they will still be able to obtain the same benefits with the use of the pooled trust.

Third Party Special Needs Trusts allow a third party (commonly a direct relative) to put money aside to help meet the financial requirements of a loved one who is disabled. This trust helps provide peace of mind that the disabled individual will have access to the funds he or she needs over the span of time. The person that sets up the trust has the ability to choose what to do with the remaining funds when the original beneficiary passes away.

Effective Special Needs Trust Services

Quest Settlements provides assistance with Special Needs Trust services in Los Angeles.

Our settlement consultants know the value of Special Needs Trusts for personal injury claimants that are disabled. Over the years, throughout Los Angeles County, we have assisted many disabled claimants and their attorneys with establishing these trusts effectively and as quickly as possible. We are always here to help you with any questions and concerns regarding Special Needs Trusts in Los Angeles, and have the expertise needed to provide efficient assistance.

Don’t wait to get the Los Angeles Special Needs Trust assistance you or your client requires. To schedule an appointment with Quest Settlements, please give us a call at (805) 823-6100 or fill out our online form, and a representative will get back to you shortly.

For Special Needs Trust Assistance, Contact Quest Settlements Today at (877) 832-3005

For Special Needs Trust Assistance, Contact Quest Settlements Today at (877) 832-3005