Special Needs Planning
Putting an estate plan in place is even more important and more challenging for clients who have a child with a disability. For parents with a disabled child, the plan must span well beyond their own death and include the plan of care, and asset management, for their child’s lifetime.
By creating a Supplemental Needs Trust the parent can leave an inheritance for that disabled child without the child losing their government benefits such as SSI or Medicaid. An attorney will be able to assist you in the process of creating a trust and carefully choosing a trustee. This person can be a family member, friend, or a professional trustee who oversees the trust for the disabled individual.