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Estate Planning for Disabled and Elderly

A concern for some clients is planning for the future of a loved one who is disabled. A Special Needs Trust can be very valuable in the right circumstances. The purpose of the trust is to make sure that your loved one is financially secure, without jeopardizing the government assistance that is otherwise assisting that person. In order to properly utilize a Special Needs Trust, contact an attorney, such as Shulman Law, to assist with the process of drafting it. A Special Needs clause can be written into a Last Will and Testament or a Trust, but it can also be an independent document.

There are some financial ramifications that can accompany a Special Needs Trust, especially when set up for the benefit of an elderly person. Speaking with a knowledgeable attorney in Elder Law is essential to understanding the benefits, and costs, associated. Alternatively, if a Special Needs Trust is not properly drafted, or is not included in an Estate Plan, the result can be the loss of Medicaid, SSI, food stamps, or other governmental supplemental care. Contact Shulman Law to ensure that your wishes are properly carried out, without inadvertently causing financial strain to your loved one.

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