Do you have a special needs child? Are you disabled and coming into an inheritance or settlement?
The purpose of a special needs trust is to preserve government benefits for disabled beneficiaries, while still granting them access to the assets placed in the special needs trust. For example, if you have a special needs child and worry what might happen to them in the event you become incapacitated or pass away unexpectedly, a special needs trust may put your mind at ease. Or if you are disabled and receive government benefits, such as SSI or Medi-Cal, a special needs trust can be created to hold your inheritance (or other money you come into, such as a settlement) without disqualifying you from your government benefits.
A specific person or bank can be put in charge of managing a disabled person's assets such as stocks, cash, real estate, and bonds. Those who do not establish a special needs trust for their disabled loved ones and leave them a certain amount of inheritance may disqualify them from future government benefits. To ensure your loved ones are protected and cared for once you pass away, call the Huntington Beach estate planning attorney at Sterzer & Associates, A Law Corporation, today.
Contact us today to learn more about special needs trusts!
At Sterzer & Associates, A Law Corporation, we go above and beyond to ensure you and your family has a comprehensive estate plan that meets your needs. No matter what type of estate planning-related documents you need help drafting or amending, our Huntington Beach estate planning attorney is here for you. Contact us today to schedule a consultation.