Special Needs Planning
Building a bridge to a secure future
Special needs planning is a critical aspect of estate planning for families with loved ones who have disabilities. At Heritage Law Partners, we understand the unique challenges and concerns families with disabled or vulnerable persons face. Our goal is to help you create a comprehensive plan that not only protects government benefits but also ensures continuity of care and enhances quality of life for your loved one with special needs.
There are two primary types of special needs trusts, each serving a distinct purpose: First-Party Special Needs Trusts: These trusts are designed for adults with disabilities who have their own assets. They allow individuals to maintain eligibility for government benefits while preserving their personal assets for supplemental needs. First-party trusts are often used when an individual receives a personal injury settlement or an inheritance that wasn't properly planned. Third-Party Special Needs Trusts: These trusts are established by parents, grandparents, or other loved ones for the benefit of a person with special needs. They allow families to set aside funds for their loved one without jeopardizing their eligibility for essential government benefits like Medicaid or Supplemental Security Income (SSI).
Special Needs Planning is More than Just Benefits Planning
While protecting government benefits is crucial, it is only one aspect of a lifetime of care. We work with you to create a holistic plan that addresses all aspects of your loved one's life, including:
- Continuity of Care: We help you outline a detailed care plan that ensures your loved one's needs will be met even when you're no longer able to provide care yourself. This includes identifying future caregivers, detailing daily routines, and documenting medical needs.
- Quality of Life Considerations: We focus on how the trust can be used to enhance your loved one's quality of life, funding things like education, recreational activities, and personal items that government benefits don't cover.
- Guardianship and Decision-Making: We assist in determining whether guardianship is necessary and, if so, help you choose and legally designate the right guardian. We also explore alternatives like supported decision-making when appropriate.
- Letter of Intent: We guide you in creating a comprehensive letter of intent that provides future caregivers and trustees with crucial information about your loved one's needs, preferences, and routines.
At Heritage Law Partners, we recognize that each family's situation is unique. Our experienced attorneys work closely with you to understand your loved one's specific needs and create a tailored plan that provides protection, care, and peace of mind. We're committed to helping you secure a bright future for your loved one with special needs, ensuring they receive the care and support they deserve throughout their lifetime.
