It is common for families to have a family member who has a disability or special needs. While the government provides financial assistance through programs such as Medicaid, Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI), it is rarely sufficient to meet all of the needs of a disabled person. Special needs planning, and specifically, a special needs trust is a crucial legal tool which holds assets to care for and protect the elderly and persons with disabilities while allowing them to continue to receive their necessary government benefits. Failure to plan for a disabled family member could jeopardize his/her government benefits.
There are numerous advantages to special needs planning and the use of a special needs trust including:
preserving eligibility for government benefits;
providing funds to pay for “extras,” (e.g., homes, automobiles and supplemental therapies/services);
protecting a case settlement from depletion;
keeping assets within the family; and
giving family members much needed peace of mind by providing funds to care for their loved ones who may not be able to care for themselves.
Experience & Compassion Matter
Golombek Law, LLC is here to assist you in planning for your loved one with special needs in order to provide them with the quality of life they deserve. Such assistance includes:
- Providing for a person with special needs in your Will
- Applying for Guardianship
- Setting up a Special Needs Trust
- Advising you regarding long term care and asset preservation and protection planning for loved ones with disabilities
- Durable powers of attorney
- Health care proxies and living wills