Key TakeawaysEngaging an experienced Arizona trust attorney is essential when managing complicated assets, navigating family conflicts, and interpreting the intricacies of state trust laws, ensuring all legal and fiduciary responsibilities are properly fulfilled.Expert legal advice resolves ambiguous trust provisions, reduces the likelihood of beneficiary conflicts, and ensures adherence to the Arizona trust code and tax [...]
Key Takeaways Whether to choose a standalone special needs trust or a pooled trust depends on the unique needs of the beneficiary. That too, but the asset size and family preferences as permitted under the American legal structure. Standalone trusts offer more control and customization. They have much higher initial expenses and need ongoing [...]
Key Takeaways Special needs trusts are a vital tool for protecting eligibility for essential government benefits such as SSI and Medicaid. Additionally, they offer long-term financial security to individuals living with disabilities. Three main types of special needs trusts. These trusts include first-party, third-party, and pooled trusts, each with different funding sources, rules, and [...]
Key Takeaways Special needs trusts, when properly set up under the laws of the United States, allow for this continued eligibility for critical government benefits like Medicaid and SSI. It has long offered extra financial support for people with disabilities. Knowing what questions to ask goes a long way toward ensuring financial security and [...]
Key Takeaways Special needs trusts are the cornerstone of eligibility protection for means-tested federal government benefits such as SSI and Medicaid. Most importantly, they enable beneficiaries to get more support than what covers their basic needs. Getting the legal details right is essential to not put government assistance at risk. Proper special needs trust [...]
Key Takeaways Start special needs trust planning right after a disability is diagnosed. This step taken in advance ensures that their hard-earned eligibility for critical government benefits such as Medicaid and SSI are preserved. Early and proactive planning allows families to address financial needs, avoid costly mistakes, and secure long-term stability for the beneficiary. [...]
Key Takeaways First-party special needs trusts are funded with the beneficiary’s resources, such as personal injury settlements or inheritances. Third-party trusts are funded by family members or other benefactors. Whether to use a first-party or third-party trust. It is an essential tool for maintaining eligibility for important government benefits, such as Medicaid and Supplemental [...]
Key Takeaways Special needs trusts (SNTs) help Arizona families protect eligibility for benefits like AHCCCS and SSI while providing financial security for loved ones with disabilities. Properly structured SNTs add to the benefits families can receive from government sources. They provide for important areas of life, including health, home, and personal support, that the [...]
About Phoenix, Arizona, And The Role Of Trust Management Attorneys In Wealth Preservation Phoenix, Arizona, is one of the fastest-growing metropolitan areas in the United States and is known for its warm climate, stunning desert landscapes, and vibrant economy. As the fifth-largest city in the country, Phoenix attracts people from all walks of life, [...]
Key Takeaways Arizona estate recovery allows the state to recover Medicaid expenditures from the estates of deceased recipients. This process targets assets like homes and bank accounts. Knowing how the process works is key to smart estate planning. Other assets might be exempt from recovery claims, including assets that are protected under special trusts [...]