Estate planning for the future varies from person to person and family to family. Whether it is dictating the terms of your will, setting up a long-term care plan, and everything in between, it’s important to consider the future of your loved ones. Certain situations call for special needs care to be set up. A special needs trust can be useful to maximize the amount of help your loved one with special needs can receive, both from you and from the government.
In order for people with special needs to receive help from the government, they must make under a certain amount of money to qualify. What a special needs trust does is rearrange assets to assure special needs benefits from the government continue to be supplied. A special needs trust attorney can help you start your trust and ensure you or a loved one will receive all the help possible now and in the future.
Why is a Special Needs Trust Important?
A special needs trust is critical when you want to ensure your special needs loved one gets ample help now and later. A special needs trust can help you designate how funds are used, by who, and when. Your special needs trust would have a trustee that oversees your trust and disperses funds to your special needs loved on when needed. This is beneficial because if you did not have a special needs trust set up, your assets may be wrongly distributed and dispersed after your passing. Another one of your beneficiaries might inherit your assets and fail to provide proper care for your special needs loved one. A special needs trust lawyer can help guide you through all the benefits you can receive if you start a special needs trust today.
What Happens to My Trust After I Die?
In most cases, after you die, your assets won’t be subjected to be released and can continue to benefit your special needs loved one. It’s important that you set stipulations about your special needs trust prior to your death in order for your trust to run smoothly after it. A special needs trust Estate Planning attorney can help you with the specific details involved in assuring your trust is a valuable asset to your beneficiaries.
Do Estate Planning Attorneys Help With Special Needs Trusts?
Estate planning attorneys can help with putting together a strong special needs trust. They can take you through the steps to securing the life and health of your loved ones. Israel & Gerity, PLLC has experience providing clients with personalized help in creating a trust that best fits their needs.