There are many people who have family members have special needs. Those who do understand how important it is to take care of that individual. It is important to know that this care does not have to stop when your life is over. In fact, there are ways you can incorporate a special needs loved one into your estate plan so that they can continue to receive the resources they need throughout their life. In doing so, it can be beneficial to retain the services of an experienced and compassionate New York estate planning attorney for guidance.
How Do I Ensure My Loved One Receives Government Benefits?
When an estate plan is created, it is easy for mistakes to be made without proper guidance. It is because of this that some parents or grandparents of people with special needs accidentally disinherit their special needs children out of fear that the individual will lose their government benefits. However, it is crucial to know that there is a way to have your child or grandchild inherit your assets while they are still receiving government benefits. This can be done through the creation of a special needs trust to ensure the loved one is taken care of throughout all aspects of their life.
Government benefits that an individual may receive can include SSI or Medicaid. This allows your child to have medical and dental care, transportation services if necessary, proper education, as well as other necessary assistance. These are services that an individual with special needs cannot afford to lose, which is why it is important to make sure your estate plan is made correctly with the proper help.
Should I Rely on Others to Financially Assist My Special Needs Loved One?
As stated before, an individual with special needs requires the right care and attention. Without it, they may lose certain services that are necessary for their growth and ability to function the way they need to. It is because of this that if you wish to ensure their future is protected, it is best to take care of it yourself and not rely on others to do so for you. While some may worry that this calls your trust in other loved ones into question, it does not. By leaving the financial care of a special needs individual up to someone else, it is possible for the loved one to lose their care. For example, the person left responsible may go through a divorce and lose half of their assets, making them unable to care for the special needs individual. That is why it is crucial that you take care of loved ones who need help on your own.
Contact our Firm
If you or a loved one needs assistance creating an estate plan and wish to speak with an experienced attorney, contact the Law Office of Andres D. Gil, PLLC today.