A trust is a legal document that controls the management and transfer of your assets. With a trust, one or more persons (the "trustee") are appointed to hold property, usually real estate or investments, for the benefit of another or several other people (the "beneficiary"). Trusts can accomplish many things. They can preserve assets, provide for the needs of a disabled adult child and reduce taxes and avoid the need for probate.
At the Law Offices of Scott Alan Morrison, P.A., we have extensive experience in the creation of all types of trusts, including:
- Revocable living trusts
- Irrevocable trusts
- Specials needs trusts
- AB trusts
- Bypass trusts
- Life insurance trusts
- Charitable remainder trusts
- And other types of trusts
Contact us for a free consultation. We can discuss your needs, and if a trust is right for you, create the legal vehicle which can accomplish your goals.
Special Needs Trusts
Our firm has a great deal of experience in the creation of special needs trusts (also called supplemental needs trusts). These can provide for the supplemental needs of a disabled adult child, while preserving the child's eligibility for Supplemental Security Income and Medicaid benefits.
The rules regarding these trusts are complex and a mis-step can result in the loss of SSI and Medicaid benefits. Once lost, these benefits are very difficult to regain. Our firm can review your situation and create the specific special needs trust which provides for your child's needs, enables the child to retain benefits and complies with the law.
A trust can eliminate the need for probate — a legal process that can take up to nine months or longer for assets to reach the intended beneficiaries after a person's death. With a trust, property is immediately and directly transferred to your beneficiaries — reducing time, cost and attorney's fees.
The Law Offices of Scott Alan Morrison, P.A. can address your needs in this area and create the trust of trusts which can achieve your goals.
Free Consultation with a Lawyer
For more information and a free consultation with the Law Offices of Scott Alan Morrison, P.A., call us at 301-694-6262 or contact us online.
We have offices in Frederick and Hagerstown, Maryland, to serve you. Evening, weekend and off-site appointments are available upon request.