When it comes to personal injury settlements, even hundreds of thousands of dollars can be quickly depleted by mounting medical bills, the cost of ongoing care, or poor financial planning. Even worse, access to needs-based government benefits (e.g., Medicaid, SSI) can be compromised if a claimant’s assets rise above eligibility thresholds.
A special needs trust (SNT) offers a solution for injured claimants who need to maintain needs-based benefit eligibility. An SNT provides access to the settlement funds for approved distributions while concurrently allowing the beneficiary to continue receiving vital needs-based benefits. In other words, an SNT can directly impact a disabled individual’s long-term quality of life.
Streamline the Process from Start to Finish
Skilled and thorough advising is critical for protecting the claimant and the law firm. Considerations range from current and future medical needs to anticipated loss of earnings, access to needs-based benefits, and future plans (e.g., college tuition, home purchase, etc.). If a claimant is not properly informed of all settlement options or if a trust is set up incorrectly, the law firm may face negative implications.
ARCHER works closely with a national network of experienced settlement planners, trust companies, and elder law attorneys to ensure a comprehensive, individualized, lawful approach. We act as the nexus of the trust process, coordinating efforts to efficiently resolve the settlement and establish the special needs trust.