We are a full-service estate planning and probate law firm working to provide peace of mind to our clients and their families.
What Is Special Needs Planning?
Special needs planning is a type of estate planning specifically designed to help families care for a loved one with disabilities. This type of planning often involves creating legal documents such as a special needs trust, durable power of attorney, and guardianship. These documents allow you to care for your loved one while protecting your own assets.
Special needs planning is an important part of estate planning for anyone with a family member with a disability. It can be difficult to plan for the future when you don't know what challenges your loved one might face. An experienced special needs planning attorney can help you create a plan that will help you care for your family member while also protecting your finances.
What Is a Special Needs Trust?
A special needs trust is a legal document designed to help you care for a family member with disabilities. This type of trust is funded with assets that have been specially designated for the care of your loved one. The trust is then managed by a trustee who is legally responsible for making sure the funds are used to care for your loved one.
A special needs trust is a legal document designed to help you care for a family member with disabilities. This type of trust is funded with assets that have been specially designated for the care of your loved one. The trust is then managed by a trustee who is legally responsible for making sure the funds are used to care for your loved one.
A special needs trust can help you pay for expenses such as:
- Medicaid and Medicare
- Health care costs
- Specialized transportation
- Housing and living expenses
- Caregiver support
- Education and training
If you use a trust to pay for these expenses, you can protect your own assets from being taken by the government. This is important because many government benefits programs will take away any funds that are used to pay for a disabled person's expenses. If your assets are taken, you may not be able to provide for your loved one.
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What Is Durable Power of Attorney?
A durable power of attorney is a legal document that allows you to appoint someone to make financial decisions on your behalf if you become unable to do so. This document is especially important for families with a loved one with disabilities, as they may need someone to make financial decisions for them if they become unable to do so.
A durable power of attorney is a legal document that allows you to appoint someone to make financial decisions on your behalf if you become unable to do so. This document is especially important for families with a loved one with disabilities, as they may need someone to make financial decisions for them if they become unable to do so.
There are two types of durable powers of attorney:
- The durable power of attorney for health care allows you to appoint someone to make medical decisions on your behalf if you become unable to do so.
- The durable power of attorney for financial decisions allows you to appoint someone to make financial decisions on your behalf if you become unable to do so.
It is important to appoint someone who is willing to make decisions for you if you become unable to do so. If you are unable to make decisions, your appointed agent must be able to make decisions for you without your input. This can be difficult if you have not chosen someone who is willing to make these decisions.
How Can a Special Needs Trust Attorney Help?
Creating a special needs trust and durable power of attorney is a complicated process. It is important to work with an experienced attorney who can help you understand the process and make sure you have all the information you need to make the best decisions for your family.
Our team at Estate & Probate Law Group is dedicated to helping you create a plan that is tailored to your specific needs. We can help you create a special needs trust, durable power of attorney, and other legal documents that will help you care for your loved one while still protecting your own assets. We can also help you set up a special needs trust for a minor child who has not yet reached adulthood.
Call our office today at (877) 641-2952 to get started.
Our goal is to provide exceptional service that supports the generations of your family.
