Special Needs Planning

Create and Provide a More Certain Future for Those with Special Needs, as well as, for the Rest of the Family

Estate planning may suggest families with great wealth, but that is not true. It simply means organizing your estate, whatever its size, to meet the needs of the entire family as efficiently and economically as possible. The three primary sources of support available to a person with special needs are family, financial security and government benefits to provide family members the financial ability to handle ongoing needs.

With these goals in mind, special needs planning can help address these unique planning challenges. Parents facing the possibility of providing continued care for the rest of their child’s life, now have better options. In the case of entire families taking on the responsibility of care, proper estate planning would help gather the financial means to facilitate a quality of living.

But what exactly is proper estate planning?

• Organizing the estate to minimize taxes and costs
• Maintaining eligibility for government programs
• Assuring continued availability of charitable programs
• Funding a Supplemental Special Needs Trust

Providing for a child with special needs long-term?  CLICK HERE

Without an estate plan in place, families are left with few choices. Bestowing assets directly may eliminate eligibility for any governmental or charitable assistance. Leaving them completely dependent on government programs and charity is not always the best option.

One possible solution is to create and fund a Special Needs Trust with the help of a qualified attorney. A Special Needs Trust is a carefully structured trust that provides financial security for the special needs child or family member while allowing that person to qualify for government benefits. The plan provides the family with flexibility, allowing new caregivers to meet the social, emotional, physical and financial needs of their loved one.

Hearing about families with loved ones who have special needs is becoming more commonplace due to a greater awareness and social understanding. The special needs of physically, mentally, and emotionally disabled family members present unique planning circumstances. I understand the concerns and challenges of special needs planning and can help guide you through the process, while helping ensure that your family’s financial goals are being met.

Let me help you navigate with one on one attention.

Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.