Rough estimate to set up special needs trust?

Bankruptcy and Debt 2 views 3 answers
For person applying for SSI and seeking to protect assets over allowable $2000 from government . Also, when is this trust needed?

Attorney Answers

3
Hillary Johns ·
Do you mean that you want a quote as to how much it will cost to prepare a special needs trust? That's really something that you ought to work out with an attorney privately, not on . There are several well qualified lawyers on who can assist you.
0 upvotes
Joseph M. MasiukEstate Planning AttorneySouthampton, PA ·
Special needs trusts are not cans of beans, the price for which can be shopped from lawyer to lawyer. Nor is the time, qualifications and experience from lawyer to lawyer going to be identical, like those same cans of beans. While I know that price is always going to be a factor,"fit" between lawyer and client is more important. Qualifications of the lawyer are more important, also, so that the main objective can be accomplished: That the job is done correctly and that the client has confidence in his or her lawyer that the job has done correctly.
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Janet Brewer ·
Asking how much it costs to set up a special needs trust is like asking how much it costs to buy a car. Do you want a Yugo or a McLaren (or a Maybach)? What does it need to do? This isn't a case of comparing a gallon of Clorox bleach with the generic no-name brand. There are a lot of factors that go into preparing a special needs trust that will work the way you intend it to. I suspect legal fees in Arcadia are higher than legal fees in "Podunk" CA or rural Kansas. Rents are higher, salaries are higher, so legal fees are higher, too. A properly crafted special needs trust is also not something that you can "buy" for $399 on LegalZoom or by using an office supply store form. The question you should be asking is "how do I find an attorney who has the expertise to draft a special needs trust that will accomplish the goals it needs to".
0 upvotes

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