Elk Grove Special Needs Planning Lawyers Are Here to Help You & Your Family
Special needs children are some of the most vulnerable members of society. They often have difficulty communicating and may be unable to care for themselves. As a result, they rely heavily on the love and support of their families.
Families with special needs children face unique challenges. They must provide constant care and support while also dealing with the stress of managing their child’s condition. It can be difficult to find the time and energy to do everything that is needed.
Fortunately, there are many organizations and resources available to help families with special needs children. These organizations can provide information, support, and financial assistance. They can also connect families with other families who are facing similar challenges. However, children with special needs not only need emotional support but they may also need financial support. Government assistance is available to help children with special needs but not every family or child qualifies for assistance. Your child’s eligibility may be impacted by your family’s income, your child’s disability, and your state of residence.
A special needs trust is a type of trust that can be used to provide financial support for a child with special needs. The funds in the trust can be used to pay for items that are not covered by government assistance programs. The funds can also be used to supplement government assistance programs. A special needs trust can be used to pay for items such as medical expenses, housing, education, and transportation.
We can effectively address any questions you may have when it comes to developing a special needs plan to take care of your young child with special needs or even developmentally disabled adults, as well. Contact us today at 916-685-1225 to get started.
How Can I Leave Assets For My Special Needs Child?
Estate planning for a family with special needs children comes with a complex set of financial, social, and medical issues that some lawyers are ill-equipped to handle.
At Cava & Faulkner, we are dedicated to ensuring your child with special needs will be well taken care of when you are no longer able to serve as their primary caregiver.
We offer a variety of estate planning tools and strategies designed to accommodate the unique circumstances presented by children with special needs and their families.
We can help you pass on the financial assets needed for your child to live a rich quality of life without jeopardizing their eligibility for government benefits. We will also assist you in finding and appointing a trusted guardian and/or trustee to look after them in the event of your death or incapacity. And we will help with locating the best residential opportunities and identifying the best means to pay for them. We truly believe your special needs child deserves the best possible care. From Supplemental Security Income (SSI) and other government benefits, we can help you plan for your financial future.
How Do Special Needs Trusts Work?
One “Catch-22” situation that typically arises in estate planning for those with special needs is how to leave enough money to pay for the massive amount of care and support a special needs loved one typically needs throughout their lifetime while not disqualifying them from government benefits like Medicaid and Supplemental Social Security Income (SSI).
If you leave a large lump sum of money directly to a special needs child, immediately there are concerns about how that might impact governmental assistance and whether your child is capable of managing finances on their own.
Fortunately, we have an estate planning tool called a “special needs trust” designed to provide supplemental financial resources for the physically, mentally, or developmentally disabled children without affecting their eligibility for public healthcare and income assistance benefits.
That said, the rules for such trusts are quite complicated.
For instance, funds from a special needs trust cannot be distributed directly to the disabled beneficiary and must be disbursed to a third party who is responsible for providing the goods and services your special needs child will need to maintain a comfortable lifestyle.
Even once you have established a special needs trust, the care and attention we pay to your special needs child are not over. We know that your child’s financial and emotional requirements will change over time, sometimes dramatically. And the laws governing public benefits change over time. Given this, it is vital to work with an experienced Elk Grove special needs attorney who can create a comprehensive special needs trust that is both properly structured and appropriate for your child’s specific situation. We can discuss all of the public and private resources available for your child and continue supporting you and your ever-changing circumstances going forward.
Do I Need a Lawyer’s Help For Special Needs Planning And Trusts?
If you need estate planning for your child with Down Syndrome, autism, cerebral palsy, or any other developmental or intellectual disability, we are here to help you. We will help you develop a sustainable living plan for your child with special needs that will provide them with the finances they need to live a full life while preserving their access to government benefits, Medi Cal benefits, and more. We aim to reduce the stress of family members by providing strategies that can get your loved one the financial assistance they deserve.
Call Our Elk Grove Special Needs Planning Lawyers Today!
If you have a loved one with special needs, it is important to plan for their future. This includes ensuring they have the financial resources they need to live a comfortable life. Our team of experienced attorneys can help you create a special needs trust that will provide your loved one with the care and support they need. Let us help you give your child or family member the best possible chance for a happy and fulfilling life. Call our law firm at 916-685-1225 so we can help you protect assets, set up a special needs trust, and provide you with legal services involving elder law and estate planning.