Special Needs Trusts
The Purpose Of Special Needs Planning
Individuals with special needs require a certain level of care in order to lead happy and healthy lives. This includes ongoing medical care and other personal needs – a role that is typically fulfilled by a caregiver or other qualified professionals. This continuous support is often financially demanding, and thus, there should be a long-term plan in place to ensure a stable future for the person needing special care.
In essence, special needs estate planning provides disabled individuals with the future care they need. If the caregiver is unable to perform their essential duties due to death or incapacitation, future planning allocates the resources needed to continue proper care to a Special Needs Trust so that there is protection from lawsuits and creditors.
A Special Needs Trust also protects these funds from being counted as financial assets of the disabled. This ensures that their eligibility for government benefits is not threatened as a result of the money in the trust.
The special needs trust lawyers at Mateskon Law play an integral role in the future planning of disabled individuals. With our immense knowledge and experience, we are able to supply our clients with the guidance needed to provide security for their loved ones with special needs.
We understand the importance of special needs estate planning – and will stand with you to ensure that you receive unwavering legal support every step of the way.
How Are Special Needs Defined?
Special needs individuals typically need both ongoing medical and health care aid, and many also need an array of other related services intended to enhance their quality of life.
Disabilities can be mental, physical, behavioral, emotional, or learning-related. Those living with disabilities need specialized care to ensure their access to public amenities, safety, or ability to succeed in certain contexts.
Examples of common special needs disabilities include:
- Physical: Muscular dystrophy, chronic asthma, multiple sclerosis, epilepsy, etc.
- Developmental: Autism, down syndrome, dyslexia, and other processing disorders.
- Behavioral/Emotional: ADD, oppositional defiance disorder, bipolar disorder, etc.
- Sensory Impaired: Blindness, visual impairment, deafness, limited hearing, and similar sensory impairments.
Different Types Of Special Needs Trusts
There are two essential types of Special Needs Trusts: General Support and Supplement Care. General Support Special Needs Trusts are considered the predominant source of benefits for disabled individuals while Supplemental Care Special Needs Trusts are the secondary source of benefits. Supplemental Care Special Needs Trusts are usually used after government benefits have been depleted.
Making a decision on how your disabled loved one's trust is established can be difficult. At Mateskon Law, we make sure our adept special needs estate planning attorneys are available to offer you guidance in making the best possible decision.
Mateskon Law: Providing Disabled Individuals With Unwavering Legal Protection
Are you considering a Special Needs Trust for your loved one in Sand Lake, Michigan? Mateskon Law is here to offer our committed legal insight. To get started with an initial consultation, please do not hesitate to contact our firm for more information!