Creating Effective Special Needs Trusts
Each household has its own family dynamics, financial structure and unique needs. For parents, providing for children is a primary concern. When a child has special needs, providing for the child into the future is frequently a vital concern. Planning for a minor or adult child’s special needs to provide for your loved one after you are gone is crucial.
Special Needs Planning To Protect Your Child
At the Law Office of Amy B. Van Fossen, P.A., in Melbourne, Florida, we can provide you with comprehensive estate planning services to help you shelter an inheritance and other assets from disqualifying your loved one from important government benefits. Proper special needs planning can allow you to supplement government assistance programs to give you peace of mind that your legacy will allow your child to pay for services that government programs are unable to provide.
Special Needs Trusts To Provide For A Disabled Spouse Or Other Adult
It is important to note that special needs trusts (sometimes referred to as supplementary needs trusts) are not limited to children. Any loved one with a disability whom you may want to provide for can benefit from special needs planning. A disabled spouse, for instance, may be receiving Medicaid and Supplemental Security Income benefits. If you predecease your spouse, an inheritance may result in the loss of Medicaid or SSI benefits. A special needs trust may be an appropriate remedy to allow you to provide a richer quality of life for your loved one. We can help you review your estate planning materials and help you create a special needs trust, if appropriate for your situation.
A special needs trust is a versatile tool for the protection of assets of a person with a mental or physical disability. However, like any form of trust, you must comply with strict guidelines to ensure the trust is properly created. Our asset protection lawyer has a background in financial planning and a wealth of experience as an effective estate planning attorney. We will fully evaluate your options and meticulously craft a plan tailored to your goals.
Get Professional And Compassionate Representation In Special Needs Matters
To learn more about special needs planning to preserve your legacy, send us an email or call 321-426-1848 or 800-495-9153 to arrange a confidential consultation with an experienced lawyer in Brevard County.