If you have a child with a significant developmental disability, there is a good chance you need a special needs trust for that child. A special needs trust allows parents, grandparents, and others to give money or leave an inheritance to a person who receives SSI or Medicaid without causing them to lose those critical benefits.
Even though your child might still be young and not getting these benefits, at age 18 they will be eligible based only on their own income and assets. When a child’s parents die before they set up a will and special needs trust, money goes directly to the child, causing a headache for those left behind to deal with. It might even cause a delay or a loss of benefits to the child. Don’t leave a mess for family to clean up after your death, leave a well thought out plan so those you leave behind can focus on the right things.
Learn more about special needs trusts on our FAQ page. There are different types of trusts and the correct type must be used for each situation. An attorney will make sure your plan is done properly by gathering information on the source of the money that will go in the trust, the amount of resources available, the availability of family members to act as trustee, and other information needed to determine the proper type of special needs trust to use.
An Austin special needs trust lawyer at Parker Counsel Legal Services, a special needs law firm, can help you create a trust. and prepare for its use in the future, making sure your child is protected no matter what may come.
Your Next Step
Contact Parker Counsel Legal Services at 833-RED-BOOT (833-733-2668) or firstname.lastname@example.org to schedule a short phone conference to see how we can help your family – or schedule a phone call now.