Establishing a Special Needs Trust

By establishing a special needs trust, one can set aside assets for a disabled loved one. Unfortunately, exceeding the permitted amount of assets can often impact the receipt of government benefits by the disabled and may leave you in need of a criminal defense attorney seattle. Those government benefits often pay for much needed medical care that otherwise could not be afforded by the individual’s family. When an estate planning attorney sets up a special needs trust, the individual can continue to receive the benefits that they need while the assets are held in the trust. The special needs trust enables the beneficiary to enjoy the use of the property that is held within the trust, yet continue to receive the government needs-based benefits to which he or she is entitled.

special-needsWithout a special needs trust, the recipient could lose those essential benefits and use up their assets much more quickly than anticipated. The special needs trust is designed to look out for the disabled individual and ensure that they get the services they need without losing all of their assets. A special needs trust protects assets while also protecting the individual to ensure they have access to the benefits they need as well as high quality medical care and treatment. Estate planning is designed to protect not only the individual who has set up the trust and other documents, but it will also protect their family and loved ones as well.

Proper Estate Planning

A special needs trust can be a detrimental part of estate planning, so you can rest assured that the future needs of your loved one will be properly addressed in the years ahead. Regardless of an individual’s financial situation or the number of assets, estate planning is important because it can make sure an individual’s needs are properly addressed and that his or her wishes are being followed. An attorney who handles estate planning can help you decide if your family can benefit from a special needs trust or some other form of trust.

Estate planning should also include a last will and testament and medical directives, which is also referred to as a living will. Unfortunately, many people wait until they are older or get in poor health before seeking estate planning advice. Because sudden illnesses and accidents do happen, any adult should do basic estate planning to ensure their wishes are followed and to protect their loved ones from added stress in the event that medical issues do arise and that decisions must be made for them in the future.