Special Needs Trusts & Planning

Planning for a loved one with special needs requires careful consideration to ensure they have the financial security and resources they need without jeopardizing essential government benefits. At [Your Law Firm's Name], we help families throughout Wisconsin navigate special needs planning, including establishing special needs trusts (SNTs) and Wispact Trusts.

What Is a Special Needs Trust?

A special needs trust (SNT) is a legal tool designed to provide financial support for an individual with disabilities while maintaining their eligibility for public benefits like Supplemental Security Income (SSI) and Medicaid. Funds placed in an SNT can be used for a wide range of expenses, including medical care, education, transportation, and personal needs, improving the beneficiary’s quality of life without affecting their benefits.

Types of Special Needs Trusts

There are two primary types of special needs trusts:

First-Party Special Needs Trusts – Funded with the individual’s own assets (such as an inheritance or lawsuit settlement) and subject to Medicaid payback provisions.

Third-Party Special Needs Trusts – Created by a parent, grandparent, or other third party using their own assets to benefit a loved one with disabilities. These trusts do not require Medicaid payback.

Wispact Trusts

For Wisconsin residents, Wispact Trusts offer a pooled trust option managed by WisPACT, Inc., a nonprofit organization that administers special needs trusts for individuals with disabilities. Wispact Trusts provide an efficient way to protect assets while ensuring beneficiaries continue to receive essential public benefits.

Benefits of a Wispact Trust:

- Managed by a professional trustee, reducing administrative burdens.
- Allows individuals to maintain eligibility for Medicaid and SSI.
- Offers investment and asset management tailored to the beneficiary’s needs.
- Available in both first-party and third-party trust options.

Why Choose Mayer Law, LLC?

Attorney Mayer understands the complexities of special needs planning and can help you create a customized plan that provides long-term security for your loved one. Whether you need to establish a special needs trust, a Wispact Trust, or an estate plan that accounts for a beneficiary with disabilities, we’re here to guide you every step of the way.