New Jersey special needs trust attorney Christine Matus discusses the importance of planning for the long-term financial security of individuals with disabilities. Families often face challenges when managing assets for a loved one with special needs while ensuring they remain eligible for essential government benefits. Without proper planning, an inheritance or financial gift could unintentionally disrupt access to programs like Medicaid and Supplemental Security Income (SSI).
A New Jersey special needs trust attorney helps families create legal structures that protect assets while maintaining eligibility for public assistance. Special needs trusts are designed to hold funds for the benefit of an individual with disabilities without being counted as personal assets. Christine Matus emphasizes that these trusts allow families to provide financial support without jeopardizing vital government benefits.
Legal guidance from a New Jersey special needs trust attorney can help families understand the different types of special needs trusts available. The type of trust chosen depends on the financial circumstances of the individual and their family. Christine Matus explains that first-party and third-party special needs trusts serve different purposes but both play a crucial role in securing financial stability for a person with disabilities.
A first-party special needs trust is funded with the beneficiary’s own assets, such as an inheritance, legal settlement, or savings. Since these funds belong to the individual with disabilities, Medicaid regulations require that any remaining funds in the trust be used to reimburse the state upon the beneficiary’s passing. Christine Matus works with families to ensure these trusts are properly structured to comply with legal requirements while safeguarding the beneficiary’s needs.
A third-party special needs trust is established using funds from family members, such as parents or grandparents. Unlike first-party trusts, these funds are not subject to Medicaid payback rules, meaning they can be passed down to other beneficiaries after the individual with disabilities passes away. Christine Matus advises families on structuring these trusts to provide long-term financial security while allowing flexibility in how funds are distributed.
Trusts can be used to cover a wide range of expenses that enhance the beneficiary’s quality of life. These may include medical care not covered by Medicaid, educational programs, personal care attendants, recreational activities, and transportation. Christine Matus explains that "a special needs trust ensures that funds are used to improve the beneficiary’s well-being while preserving eligibility for government benefits."
Planning for the future also involves selecting a reliable trustee to manage the trust. The trustee is responsible for distributing funds, making financial decisions, and ensuring compliance with legal regulations. Families may choose a trusted relative, professional trustee, or financial institution to oversee the trust. Christine Matus helps families evaluate their options and select a trustee who will act in the best interest of the beneficiary.
Estate planning is a critical component of special needs planning. Parents and guardians must consider how their assets will be distributed upon their passing. Without proper planning, an individual with disabilities could unintentionally receive a direct inheritance that disqualifies them from essential benefits. Christine Matus works with families to incorporate special needs trusts into their estate plans, ensuring a smooth transfer of assets that protects the beneficiary’s financial future.
Understanding legal options and taking early action can help families secure a stable future for a loved one with disabilities. A well-structured special needs trust provides financial protection while allowing the individual to maintain access to important assistance programs. Christine Matus and The Matus Law Group assist families throughout New Jersey by developing legal solutions tailored to their specific needs.
Planning ahead can provide peace of mind and long-term security for individuals with disabilities. Special needs trusts serve as a vital tool in protecting assets and ensuring ongoing care. Christine Matus continues to assist families in New Jersey by helping them navigate special needs planning and secure a stable future for their loved ones.
About The Matus Law Group:
The Matus Law Group is a law firm serving families in New Jersey, providing legal services in special needs planning, estate planning, and asset protection. The firm is dedicated to helping families protect their loved ones' financial futures while ensuring compliance with state and federal regulations. Led by Christine Matus, The Matus Law Group works with clients to create tailored legal strategies that support individuals with disabilities and their families.
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Website: https://matuslaw.com/
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Company Name: Matus Law Group
Contact Person: Christine Matus
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Phone: (732) 281-0060
Address:81 E Water St #2C
City: Toms River
State: New Jersey 08753
Country: United States
Website: https://matuslaw.com/
