Trusts are designed with the main goal of distributing money or assets to a spouse, minor children, or adult children with special needs. When you have a special needs adult or minor child, there may be a great deal of responsibility when it comes to caring for him or her and meeting necessary medical and financial needs. Having a plan in place for that special needs child or adult as part of the estate planning process is the best way to ensure those medical, custodial, and financial needs are met. Shapiro Law Group, PC, can help draft and maintain a special needs trust for this unique situation.
Complications and Challenges for Special Needs Beneficiaries
Special needs adults may receive government benefits, such as SSI or other benefits vital to their healthcare. These benefits can be very complicated and hinge on the finances or income of the special needs adult. If that adult is the beneficiary of a lump sum or valuable assets, those needed government benefits could be at risk. There is also no way to know for sure that those needed benefits will be available for the long term.
Using a will to assign guardianship of a special needs adult to a sibling may create conflict or put too much responsibility in the hands of one person. Leaving a special needs adult out of asset distribution may also create conflict and put too much reliance on others to care for that person. Leaving that person in charge of assets they receive may not be an option at all either.
Choosing a Trustee
Creating a special needs trusts and appointing a carefully chosen trustee can be the most beneficial way to protect and provide for a special needs adult once you are gone or no longer able to care for them alone. A special needs trusts can be carefully crafted to provide financial support without compromising needed government benefits or medical care.
Special Needs Trust Attorneys
The fine line between wanting to ensure a special needs adult is treated fairly in regards to asset distribution and also wanting to minimize the impact on the benefits they currently receive makes it necessary to have a skilled legal advocate involved. Shapiro Law Group, PC, can help evaluate the status of benefits a special needs adult receives now and how to best ensure those benefits are not compromised in the future. We will take the time to get to know your unique situation and devise a personalized plan that best meets your needs. Our firm can help you decide the best options and stipulations for a special needs trust and also ensure you fully understand the responsibilities of a trustee. With our help, you can rest assured your loved one will be cared for and will receive the maximum amount of benefits possible. Let us help you create peace of mind for yourself and your loved ones through the creation of a special needs trust.
The special needs trust attorneys at Shapiro Law Group, PC, are ready to help you. Contact us today to set up your free initial consultation. 339-200-9933.