If you have a child with special needs who currently receives government benefits (such as Medicaid or SSI), or may be eligible for such benefits in the future, then it is absolutely essential to incorporate a “special needs trust” into your estate plan.
Maximize Your Child's Quality of Life
Special Needs Trusts create an opportunity for you to establish a source of funds for your child that can supplement, but not replace, your child’s government benefits. As a result, the government benefit programs would pay for your child’s basic, essential needs while a special needs trust can pay for the “extra’s” that are not covered by government benefits. This type of planning helps to ensure that your child’s quality of life will be maximized in case you were no longer there to provide for them.
Experienced Trust Preparation
Although special needs trusts are tremendously helpful in providing for your disabled beneficiary, they can be devastating if they are not drafted or administered in accordance with the law. These trusts are much more complicated than the common general support trusts for minor children and the language contained in such trusts must withstand the government’s close scrutiny.
I have been drafting special needs trusts for many years and I am eager to work directly with your financial advisor to ensure that nothing falls through the cracks during the planning process. Trust the preparation of this vitally important document to an experienced estate planning specialist who has an in-depth understanding of government benefit programs.
