Special Needs Planning

Disabled children may be helpless without their family’s help.  Have you considered who will take care of your disabled child when you pass away and have you considered whether that disabled child will have adequate resources to live a comfortable life.  Many parents procrastinate and if they procrastinate long enough it may become too late to effectively plan for that disabled child.

Most parents want to provide for their disabled children but fear that their children may lose governmental assistance if they give them money.  In order to provide for this contingency, they may leave money to another child and request that  child use these funds to assist his or her disabled sibling.  However, these funds may become unavailable to the disabled child.  The child who is entrusted to take care of his or her sibling may pass away or that child's creditors may lay claim to those funds.

Many parents may believe that if they leave their estate to their children in trust that this will protect their disabled child.  A typical support trust is not a special needs trust and this typical support trust may disqualify your child from receiving necessary governmental benefits.

A lawyer needs to look at the total picture and a good way to protect your child while preserving your child’s eligibility is to create a third party special needs trust.  The trust will be examined by governmental authorities and if the trust is not properly drafted, governmental agencies may disqualify your child from receiving  needed care and assistance.

 

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