Special Needs Planning
"Protecting Special Needs Children And Their Families"
Special Needs Planning
- Special Needs Trusts
- Guardianship
- Transition Planning
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Special Needs Planning
Americans are living longer than they did in years past, including those with disabilities. According to one count, 480,000 adults with mental retardation are living with parents who are 60 or older. This figure does not include adult children with other forms of disability nor those who live separately, but still depend on their parents for vital support.
When these parents can no longer care for their children due to their own disability or death, the responsibility often falls on siblings, other family members, and the community. In many cases, expenses increase dramatically when care and guidance provided by parents must instead be provided by a professional for a fee. Years ago, people often did not provide an inheritance for their disabled children or other relatives for fear that these disabled persons would lose their entitlement to government benefit programs until the inheritance was depleted. Times have changed and a disabled person may now be the beneficiary of a supplemental needs trust and still be eligible to receive government benefits to pay for the cost of their medical care. This allows the disabled person to use the inheritance for expenditures that will enhance the quality of his or her life while receiving government benefits to pay for medical care. Similarly, a disabled person may protect his or her own assets by having them placed into a special needs trust. Attorney Fabisch can develop a plan to permit disabled persons to spend their assets in a manner that will enhance the quality of their life (e.g., vacations, entertainment and purchase of electronics) while receiving government benefits to pay for medical care. Planning by parents can make all the difference in the life of the child with a disability, as well as that of his or her siblings who may be left with the responsibility for caretaking (on top of their own careers and caring for their own families and, possibly, ailing parents). Any plan should include the following elements: - A Special Needs Trust - Provisions for Guardianship if needed - A Care Plan and/or Letter of Intent |
Fabisch Law, L.L.C.
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