Lincoln Park Special Needs Attorneys

Lincoln Park Special Needs Attorneys

Have the peace of mind you deserve with our Lincoln Park special needs attorneys who will devout their skills to provide you with the best legal means necessary.

Our

Lincoln Park Special Needs Attorneys

Provide Excellent Service in:

Our Lincoln Park Special Needs Lawyers Can Assist you with All Of Your Estate planning Needs:

See if you qualify for a Tax Appeal

You Don't Have to Leave Your Home For Your

Special Needs

Matter

In this video, attorney Kevin O'Flaherty describes ways you can receive legal services from the comfort of home.

Take the Next Step: Schedule a Free Consultation With Our

Lincoln Park Special Needs Attorneys

What to Expect From a Consultation

The purpose of a free consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us. Although most consultations are complimentary, some may carry a charge depending on the type of matter and meeting location.

Please contact our friendly

Lincoln Park Special Needs Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Chicago

1941 N. Elston Ave., Ste. A Chicago, Illinois 60642

Phone:

(312) 736-1384

E-Mail:

chicago@oflaherty-law.com

Hours: 9 am - 7 pm Monday - Friday 11 am - 3pm Saturday 11 am - 2 pm Sunday

See below for our other locations. If our office locations are not convenient for you, we are happy to speak with you by phone.  ​​​

Some of Our Accomplishments

Naperville attorney
DuPage County Probate Attorney
Learn More About Our Firm
supplemental needs trust lawyers Lincoln Park

Lincoln Park Special Needs Attorneys

Kevin O'Flaherty oversees all legal matters and is actively involved in making sure every client's case, big or small, is handled with excellence and attention to detail. He is available to contact through phone and email and his rates are available upon request.

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Lincoln Park Special Needs Attorneys

Lincoln Park Special Needs Attorneys

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Lincoln Park Special Needs Planning Explained

In this article, our Lincoln Park special needs lawyers explain how Special Needs Trusts are used in planning for the care of individuals with special needs.  If someone has a disability in Illinois, they are commonly entitled to Supplemental Security Income if they have less than $2,000 in assets and earn under the maximum amount as described by SSI guidelines.  We use Special Needs Trusts, also known as Supplemental Needs Trusts, in order to allow disabled individuals to accumulate assets and income in excess of these amounts without reducing the amount of SSI benefits that they are eligible to receive. Typically a loved one will create the trust and serve as trustee, with the disabled individual being the beneficiary.  A bank account will then be opened in the name of the trust.

In this video, Lincoln Park special needs attorney Kevin O'Flaherty explains the process of special needs planning in Lincoln Park.

What Can You Transfer to Your Lincoln Park Special Needs Trust?

In this video, our special needs attorneys in Lincoln Park explain that an ABLE account is The Federal Achieving a Better Life Experience (“ABLE”) Act. Illinois ABLE Act accounts can be used to ensure that you or your loved one with a disability are able to receive gifts, inheritances, and income without jeopardizing entitlement to government benefits. This account allows for tax advantaged bank accounts known as ABLE Accounts that can be used by individuals with disabilities to save money without decreasing the amount of their government benefits such as Supplemental Security Income (“SSI”).  Although the ABLE Act is a federal law, each state in which ABLE Accounts are available has its own rules for how ABLE Accounts in its jurisdiction work.

In this video, Lincoln Park special needs attorney Kevin O'Flaherty discusses explains Illinois ABLE accounts and how these accounts allow individuals with disabilities to save without jeopardizing government benefits.

What is the Difference Between First Party Special Needs Trust and Third Party Special Needs Trusts in Illinois?

In this video, our Lincoln Park special needs attorneys discuss the main differences between the special needs funds to be that first party special needs trust is funded with assets owned by the beneficiary while a third party special needs trust is similar in purpose and structure to a first party, but is typically created and funded by family members who leave property through their estate plan (their will, life insurance benefits, etc.) The type of special needs trust that will fit best for your situation depends on where the assets used to fund the trust are coming from. If they are assets owned by the beneficiary, then a first party special needs trust is appropriate. However, gifts and inheritances should be placed in a third party special needs trust rather than being commingled with assets owned by a first party trust in order to avoid those assets being used to pay back Medicaid when the individual with special needs passes.


In this video, Lincoln Park special needs attorney Kevin O'Flaherty discusses explains Illinois ABLE accounts and how these accounts allow individuals with disabilities to save without jeopardizing government benefits.

Our Lincoln Park special needs lawyers are happy to meet with you in Chicago or any other location convenient to you.

Further Reading From Our 

Lincoln Park Special Needs Attorneys