The Importance Of Correct Estate Planning For Those With Special Needs
If you have a loved one who has a disability either from birth or acquired during his or her lifetime, and you want to provide for your loved one’s continued care after your death, it is imperative that you have the correct legal documents and the correct legal language to ensure proper care. This is a great time to review whatever legal documents you currently have in place, since certain laws may have changed since you had your documents drawn up.
Special needs planning is a specialized legal niche with its own language and documentation that is very different from regular estate planning. Likewise, there are so many different varieties of special needs. For instance, perhaps your loved one was born with disabilities such as autism or Down’s Syndrome. Or perhaps your loved one became disabled as the result of a tragic accident or illness. There are also different levels of functioning among the disabled. Some may be high functioning, while others are not.
If your loved one is high functioning is he or she capable of working with the estate planner? What is your relationship to the one with special needs? Are you the parent, grandparent, sibling, aunt or uncle? Most importantly, is the estate plan you have in place going to prevent your loved one from gaining access to Medicaid or Social Security Disability benefits?
The Use of Trusts
There are specific types of trusts that must be used for those with special needs. If the wrong ones are used, it could be considered malpractice. Unless the estate planner who drew up the documents for your loved one with special needs is someone who specializes in the laws and language of special needs, there’s a good chance your loved one’s best interests are not going to be met.
Call The Estate & Asset Protection Law Firm for a free 15-minute telephone consultation to find out if your special needs loved one is protected and provided for correctly.