Planning for the future is vital for everyone, but it can be especially important for families with special needs individuals. One crucial aspect of future planning is the creation of a special needs will and trust. This can help ensure that your loved one with special needs is cared for and their benefits are maximized. This article will discuss the importance of working with a special needs trust attorney.
Understanding Special Needs Trusts:
A special needs trust is a legal instrument that allows a person with a disability to receive assets and income without losing eligibility for government benefits such as Medicaid and Supplemental Security Income (SSI). A trustee manages the trust and can use the funds to pay for the beneficiary’s expenses not covered by government benefits. This includes medical expenses, education, housing, and more.
Benefits of a Special Needs Trust:
Creating a special needs trust can benefit your loved one with special needs. Using a trust, you can ensure they have access to the resources they need while preserving their eligibility for government benefits. This can be especially important for family members who require ongoing medical care or support.
Additionally, a special needs trust can provide peace of mind for family members who may worry about what will happen to their loved ones after they are gone. By creating trust, you can ensure your loved one will be cared for, even if you are not around to provide for them.
Working with a Special Needs Will and Trust Attorney:
Creating a special needs will and trust can be a complex process that requires the assistance of an experienced attorney. A special needs will and trust attorney can help you navigate the legal system and secure your loved one’s future.
One of the main reasons to work with a special needs will and trust attorney is to ensure that the trust is structured correctly. Numerous rules and regulations surround special needs trusts, and an attorney can help ensure the trust is structured to maximize your loved one’s benefits.
Additionally, an attorney can help you select the right trustee for the trust. This is an important decision; the trustee will manage the trust and ensure your loved one’s needs are met. An attorney can help you select a trustee who is trustworthy, responsible, and has experience working with special needs individuals.
Another benefit of working with a special needs trust attorney is that they can help you navigate the legal system. This can be especially important if you need to apply for government benefits such as Medicaid or SSI. An attorney can help you understand the eligibility requirements and ensure you take the necessary steps to protect your loved one’s benefits.
Conclusion:
Planning for the future can be stressful, especially when you have a loved one with special needs. However, creating a special needs will and trust can help ensure your loved one is cared for and maximizes their benefits.
To ensure that the trust is structured correctly and that you are taking the necessary steps to protect your loved one’s future, working with a special needs will and trust attorney is essential. Working with an experienced attorney can create a plan that provides for your loved one’s needs and gives you peace of mind.
