Families who have a family member with special needs must plan for the future very carefully. How assets are left after your death can have a tremendous impact on the quality of life for that person and the ability to qualify for Medicaid and SSI. To protect a person with special needs, a well-defined estate plan is vital.
How A Special Needs Trust Works
A Special Needs Trust allows a parent, grandparent or guardian to provide funds for a special needs child without disrupting the child’s eligibility for government aid. Important points to remember while investigating the use of this estate planning tool are:
- Decide on an appropriate guardian for your child
- Determine who would be a suitable Trustee(s) to manage the Trust’s assets and supervise your child’s finances
- Outline instructions in a separate document regarding your child’s education, housing, personal and emotional needs
Our law firm helps families address the financial, legal and social aspects of a person’s life to develop an effective plan for the future. Our goal is to ensure that their needs are met and that they have the opportunity to expand their horizons and follow their dreams.
