Detroit Special Needs Trust Lawyers
Michigan Trust Fund Attorneys
A trust specifically created to provide for children and other family members who have special needs and is known as a special needs trust. Our lawyers and staff at The Prince Law Firm in Farmington Hills, Michigan, have a great deal of experience working with clients to ascertain their needs and develop comprehensive estate plan. Contact our office to learn more about special needs trusts.
A special needs trust is created to ensure beneficiaries (children or adult) who are disabled, physically or mentally, are properly provided for. There are many personal reasons for such a trust, such as the beneficiary being unable to handle their own finances, there are may be financial advantages to using a special needs trust to manage assets.
Special needs trusts also may prevent the disabled beneficiary from losing government benefits. These benefits, when received, can often also be placed in the special needs trust for future use.
An asset that is often used to create a special needs trust is monetary compensation from a settlement or verdict. This situation arises when an individual has been disabled or injured by the negligence of another individual and has received the compensation as a result of legal action. The compensation can be obtained by litigation involving personal injuries, injuries connected to a criminal act, or other situation.
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Our firm takes the time to get to know our clients and their families, to ensure that the trusts and other estate planning documents are created to meet their needs. Call or e-mail a lawyer at our firm to find out if your situation warrants the creation of a special needs trust.
From our offices near Detroit, our probate litigation attorneys and estate planning lawyers assist clients from communities throughout southeast Michigan and the Tri-county area, including Livonia, Dearborn, Grosse Pointe, Southfield, Troy, Farmington Hills, Royal Oak, West Bloomfield, Novi, Warren, Sterling Heights, Mount Clemens, Shelby, Utica, and Ann Arbor; Oakland County, and Wayne, Washtenaw, and Macomb counties.
