Special needs planning protects benefits the family has worked to establish while ensuring resources supplement the beneficiary's life over a long horizon.
Luther special needs planning
Luther Special Needs Planning Attorney
Special needs trusts and integrated estate plans for Luther families.
Luther special needs planning FAQs
What's a special needs trust?
A trust that holds money for a person with a disability without disqualifying them from means-tested public benefits.
Third-party vs. first-party trust?
Third-party trusts hold money belonging to someone else. First-party trusts hold money belonging to the person with the disability and require Medicaid payback at death.
Who should be the trustee?
Often a co-trusteeship: a family member who knows the beneficiary paired with a professional trustee.
What about ABLE accounts?
Oklahoma offers ABLE accounts. Useful complement to a special needs trust.
Can grandparents set up a trust for a grandchild?
Yes. A third-party special needs trust funded by grandparents leaves money for the grandchild without disrupting benefits.
What happens to the trust money when the beneficiary passes?
Depends on trust type.
We received a settlement for our Luther child. How fast must we act?
Quickly. Direct the funds into a properly drafted first-party special needs trust at the time of payout.
A plan that protects benefits and provides a real supplement
Schedule a consultation.