Special Needs Trust Pittsburgh, PA

If you have children or other family members with disabilities, establishing a special needs trust in Pittsburgh, PA for them can be a wise move. Since your loved ones may not be capable of providing for themselves financially, a special needs trust in Pittsburgh, PA can allow them to get needed funds without losing their eligibility for disability benefits.

The proceeds from a special needs trust in Pittsburgh, PA are commonly used for medical expenses, payments for caretakers, and other permitted expenses. A special needs trust in Pittsburgh, PA covers the percentage of a person’s financial needs that are not covered by public assistance payments.

What Is a Special Needs Trust in Pittsburgh, PA?

A special needs trust in Pittsburgh, PA is a type of legal arrangement for individuals with chronic illnesses or physical/mental disabilities. Through a special needs trust, Pittsburgh, PA residents who have disabilities can receive income without reducing their eligibility for public assistance disability benefits provided by Social Security, Medicare, or Medicaid.

If you create a special needs trust in Pittsburgh, PA, you’ll need to designate a trustee. This trustee will be in charge of overseeing the management and disbursement of funds. With a special needs trust in Pittsburgh, PA, the beneficiary will be able to receive financial support without putting their eligibility for income-restricted programs at risk.

Common Reasons for Establishing a Special Needs Trust in Pittsburgh, PA

Here are some of the most common reasons why people choose to establish a special needs trust in Pittsburgh, PA:

 ·      A Special Needs Trust in Pittsburgh, PA Can Help Preserve the Family Wealth

Many parents worry about providing for a child with special needs who may outlive them or about potentially upsetting their other children who stand to be beneficiaries. Establishing a special needs trust in Pittsburgh, PA is one way of ensuring that wealth is allocated properly.

Through a special needs trust, Pittsburgh, PA parents who have a child with disabilities can create a way to provide assets while limiting their use. Additionally, the parents could direct that any remaining funds in the special needs trust in Pittsburgh, PA can be distributed to the other children upon the death of the beneficiary.

·      A Special Needs Trust in Pittsburgh, PA Can Earmark Assets for Support During Your Life or at Your Death

Through a special needs trust, Pittsburgh, PA residents can hold assets to be used to support a person with physical or mental disabilities. A special needs trust in Pittsburgh, PA can be used to provide for various needs. The donor can specify how he or she intends for the funds to be used.

For instance, one individual has a special needs child who is living in a group home. He wants to provide his child with more comfortable living conditions. By providing for the child using a special needs trust in Pittsburgh, PA, the parent can allow the child to live more comfortably while maintaining the necessary group living arrangement.

·      A Special Needs Trust in Pittsburgh, PA Can Protect Assets From Creditors or Provide Assets in Divorce

If your beneficiaries were ever sued or if they go through a divorce, a special needs trust in Pittsburgh, PA can be effective in protecting their assets. In the case of divorce, a special needs trust in Pittsburgh, PA may be required as part of the divorce agreement. The trust may be used to receive court-ordered child support that benefits a child with disabilities.

Let Us Help You Establish a Special Needs Trust, Pittsburgh, PA Residents!

To establish a special needs trust for Pittsburgh, PA clients, turn to Abernethy and Hagerman. Our team of legal professionals can guide you as you create your special needs trust. Pittsburgh, PA families rely on us for special needs planning and other issues that concern individuals with disabilities. Consult with our team, and we’ll guide you through the process of getting a special needs trust for Pittsburgh, PA clients! Click here to learn more about our trust services.

Abernethy and Hagerman: Your Trusted Elder Law and Estate Planning Attorneys

The population of Americans now over the age of 65 is steadily increasing, and the need for federal programs for assisting the elderly is also growing. Given the complexity of the programs, older adults may find it difficult to navigate these complicated financial decisions. Fortunately, Abernethy and Hagerman is here to help.

Abernethy and Hagerman is dedicated to providing top-notch, compassionate legal services that involve elder law, estate planning, trust administration, and business law. We understand how complex choices can be as we age, which is why we do whatever is possible to make the decision-making process as easy as possible for you.

Whether you need legal help with elder law or estate planning, you can depend on the unrivaled skills and compassion of our professionals. We will walk with you every step of the way and go the extra mile to help bring your short-term and long-term goals to fruition.

Our Legal Professionals: Dedicated to Providing Quality Legal Services to Those in Need

At Abernethy and Hagerman, we believe that our success is defined by the satisfaction of our clients. This is why we exhaust every possible avenue to not only meet but also exceed your expectations. When you turn to us, our legal professionals will take the time to listen and truly understand your needs. This way, we can be sure that our own goals are aligned with your interests and wishes.

Jay Hagerman

Atty. Jay Hagerman is committed to making life as easy as circumstances allow for his clients. The basis of his practice includes transactional law encompassing estate planning, estate/trust administration, elder law, real estate transfers, business start-ups and governance, contracts, and tax law.

Born and raised in the north hills of Allegheny County in Hampton Township, Atty. Hagerman took a liking to American history and decided to pursue a related degree at Gettysburg College. This provided with him with the opportunity to work in the White House office of Correspondence in Washington, D.C.

He attended Duquesne University School of Law, during which he focused his time and attention on laws that relate to wealth creation and preservation. His clerking began in his second year of law school at a law firm where he thereafter worked as an attorney.

Eventually, he decided to move to his hometown of Hampton Township, where he opened his own practice: Hagerman Law, LLC. Since then, he has been working hard to serve the community that is greatly dear to him.

With extensive experience under his belt, he displays the highest level of professionalism when he is working. Whether you need legal assistance in coping with a loss, selling a house, or managing a business start-up, you can count on Atty. Hagerman to deliver the proper solution and help you obtain some peace of mind and minimize your anxiety.

Christopher M. Abernethy

After graduating from Duquesne University School of Law, Atty. Christopher M. Abernethy opened his own law office in Allison Park, PA. Years of experience have taught him to develop and use winning strategies in handling different aspects of estate planning, probate, and business law issues. 

Following his graduation from Shady Side Academy, he obtained his B.A. from Dickinson College in Carlisle, PA and earned his J.D. from Duquesne University School of Law in Pittsburgh, PA. His experience and integrity have been recognized by the national peer review service Martindale-Hubbell, which granted him the rating of "A-V Preeminent" in 2013. Only five percent of the nation's attorneys hold this rating.

Pittsburgh Magazine named Atty. Abernethy as a Five-Star Professional Estate Planning Attorney in 2014 and 2015. Additionally, he has been a member of the AARP Legal Services Network and the National Academy of Elder Law Attorneys. Outside of his legal profession, he serves as a past-president and lifelong member of the Rich-Mar Rotary Club as well as co-founder and past-president of the Hampton Soccer Club.

Reach Out to One of Our Attorneys Today

Do you need legal help with elder law, estate planning, trust administration, or business law? Turn to Abernethy and Hagerman. We will do everything we can to provide you with the most appropriate solution. Contact us today at (412) 486-6624 to schedule a free consultation. We look forward to hearing from you.