Special Needs Planning

Typically, people think of estate planning from the viewpoint of the person leaving the inheritance.  However, that is just one side of the equation.  What about standing in the shoes of the person to receive the inheritance?  Without a professional, you run the risk of leaving assets to someone that may be receiving government benefits.  Such an inheritance may disqualify the heir from receiving his/her benefits.  Many people with special needs or a disability rely on government programs to provide health care insurance or Supplemental Security Income.  So, a real unintended consequence is leaving a loved one in a worse financial position.  With proper planning and the correct use of certain Special Needs Trusts (supplemental needs trusts), your loved one can receive ongoing government benefits and the inheritance can be used to make the beneficiary more comfortable in many ways.

Each person’s situation is unique, this is why personalized attention is so important.  If you have any questions or would like a consultation to see how we can help you implement a custom-crafted plan, please contact us now.