Trust Agreements
Trusts can be used to determine how a person's money should be managed during their lifetime or after their death. This transfers parts or all of their assets to the trustee. The trustee will hold onto the assets for the beneficiaries of the trust. Trusts have commonly been associated with the wealthy. However, there are other benefits to having a trust agreement in place. Trusts can be used for various purposes, such as in estate planning and tax planning. Our law office will be happy to discuss more details with you. Call and schedule an appointment at 440-975-1003.
Special Needs Trust
A special needs trust is a legal agreement that allows a disabled person (physically or mentally) to receive income without stopping their eligibility for public assistance benefits. These disability benefits could include Social Security, Medicare, and supplemental income. In these cases, another person or entity acts on behalf of the disabled person to help manage their assets. These trusts cover a percentage of financial needs that are not covered through public assistance payments. An example of common uses for a special needs trust includes medical expenses, transportation expenses, and other covered expenses.
Contact Our Law Firm To Discuss Your Options
Gary H. Rosenthal has 47 years of law experience and wants to put that experience to work for you and your estate. Please give our office a call at 440-975-1003 to schedule an appointment.