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Special Needs Trust
Being a parent can be the most wonderful and the most difficult job in the world.
If you have a young child or an adult child with special needs, your job is no less wonderful, but it can be much more complicated.
What can you do? What is the key to the solution of caring for the special needs individual? Establish a Discretionary Non Support Supplemental Special Needs Trust!
A Special Needs Trust is a mechanism for protecting resources to benefit individuals with disabilities.* *Individuals with disabilities are those who are unable to do any substantial, gainful activity due to severe physical or mental impairments that will result in death or will continue for not less than one year. (Social Security Administration)
What A Special Needs Trust will accomplish:
- Ability to protect resources to benefit the individual with disabilities
- Ability to help the individual with disabilities live more comfortably and productively than is possible solely with public benefits
- Ability to provide financial management
- Ability to secure the dignity of the individual with disabilities
A Special Needs Trust should be customized to meet the individual’s special needs.
- Profiles current benefits
- Maps out possible known changes to benefits
- Ensures a future care program
- Includes a distribution framework
- Provide a quality of life outline
In developing the plan for the individual with disabilities, consider the following:
- Religious Affiliations
- Medical Needs
- Final Arrangements
- Housing Options
For Families With Special Needs ESTATE PLANNING INCLUDES:
- Discretionary Non-Support Special Needs Trust
- Financial Durable Power Of Attorney
- Health Care Power Of Attorney
- Advance Directive For Health Care
- Advance Directive For Mental Health