A concern for some clients is planning for the future of a loved one who is disabled. A Special Needs Trust can be very valuable in the right circumstances. The purpose of the trust is to make sure that your loved one is financially secure, without jeopardizing the government assistance that is otherwise assisting that person. In order to properly utilize a Special Needs Trust, contact an attorney, such as Shulman Law, to assist with the process of drafting it. A Special Needs clause can be written into a Last Will and Testament or a Trust, but it can also be an independent document.
There are some financial ramifications that can accompany a Special Needs Trust, especially when set up for the benefit of an elderly person. Speaking with a knowledgeable attorney in Elder Law is essential to understanding the benefits, and costs, associated. Alternatively, if a Special Needs Trust is not properly drafted, or is not included in an Estate Plan, the result can be the loss of Medicaid, SSI, food stamps, or other governmental supplemental care. Contact Shulman Law to ensure that your wishes are properly carried out, without inadvertently causing financial strain to your loved one.
Shulman Law is a full service Estate Planning Law Firm that can assist with all areas of Estate Planning, including: Contested Wills, Health Care Surrogate, Power of Attorney, Guardianship, Pre-need Guardianship, Inheritance, Living Wills, Missing Heir Searches, Contested Trusts and Estates, Decedents Estates, Estate Administration, Estate Litigation, Estate Planning, Estate Planning for Parents of Handicapped Children, Estate Planning for the Disabled, Estate Planning for the Elderly, Estate Planning for Unmarried Couples, Estate Planning for Gay and Lesbian Couples, LGBTQ Estate Planning, Estate Settlements, Family Trusts, Family Wealth Transfer, Financial Planning, Living Trusts, Personal Planning, Pet Trusts, Powers of Attorney, Revocable v. Irrevocable Trusts, Retirement Planning, Special Needs Trusts, Trust Administration, Trust and Estate Collections, Trust Law, Trust Litigation, Trust Planning, Unclaimed Property, Wealth Planning, and Wealth Preservation.