Helping Clients Provide for Loved Ones with Disabilities

If you have a disabled child or a loved one with special needs, you probably understand how critical it is to provide financial support even after you’ve passed away. Many North Carolina residents are in the same situation and wonder about their child’s financial future. The good news is that, with a comprehensive plan, you can leave an inheritance for your family member without interfering with their public benefits. This procedure is known as special needs planning and is one of the services we offer at Compass Estate and Tax Planning.

When you hire our law firm, we’ll educate you on the legal documents that can help you assist disabled individuals while protecting their eligibility for government benefits. Our estate planning attorney will listen carefully to your questions and provide answers in clear terms that are easy to understand.

Don’t wait any longer to get started. Contact Attorney Steven Lundberg at Compass Estate and Tax Planning at 919-646-6549 to learn more about special needs planning for your family.

What Is a Special Needs Trust?

A trust is a legal tool that holds your assets, separating funds from your name and indicating how they’ll be passed on to future generations. Many people choose to create trusts in their estate plan to gain better asset protection and control over how the inheritance is distributed to beneficiaries.

A special needs trust is unique because it provides benefits to a disabled individual without interrupting his or her benefits from government assistance. A special needs trust can provide funding for activities that Supplemental Security Income (SSI) would not cover, such as recreational activities, medical care, and transportation. However, funds from a special needs trust may not be used to supplant benefits that the beneficiary is already receiving.

Special needs trusts have some eligibility requirements, making it crucial that you speak with a special needs planning attorney at our law firm. We’ll discuss how you can best protect your family’s future through special needs planning.

What Are the Benefits of Preparing a Special Needs Trust?

Special needs planning can protect the disabled person and the entire family, especially when created with legal guidance from a special needs planning attorney. This planning tool can provide asset protection and financial assistance without jeopardizing your loved one’s eligibility for Supplemental Security Income (SSI).

Some additional benefits of special needs trusts (SNT) include:

• Long-term stability for a disabled beneficiary while preserving eligibility for government aid
• Asset protection from lawsuits and creditor claims.
• Ability to use family resources for items other than food and housing, such as medical expenses, education, and recreation
• Easier gift giving, as family members can contribute to the fund without risking public benefits

Planning can make all the difference for your family’s future. Taking the time to speak with our special needs planning attorney can ensure your disabled loved one has the security and protection they need. Call now for answers to your questions and help making the legal documents that can protect your disabled beneficiary’s future.

What Other Estate Planning Documents Might Help Me?

Preparing the right estate plan is crucial when you have family members with special needs. A special needs trust is an excellent starting point. However, there are other documents that can ensure a minor child, legal adult, or other individual with special needs has the resources they need.

One example is a will. With a legally sound will in place, you can assign someone as a guardian to provide ongoing care for minor children or disabled loved ones. The guardianship process can be complicated and frustrating if you aren’t very clear in your will. Don’t leave such an important matter up to the court that doesn’t know you or your family. Assign someone you would trust through guardianship documents at our law firm.

You can prepare for the unique challenges a loved one with special needs may face through thorough estate planning. Call Compass Estate and Tax Planning today to learn more.

Should You Hire Our Cary Special Needs Trusts Lawyer?

When you are concerned about a loved one’s future due to their special needs, you need legal counsel from a Wake County team that genuinely cares. At Compass Estate and Tax Planning, we are your allies as you construct an estate plan that protects your wealth now and into the future.

We’ll guide you at each step of the planning process, from creating wills and trusts to naming a guardian for loved ones who need help caring for themselves. Special needs planning documents to provide the security and freedom your special needs family member deserves. Our excellent legal advice can preserve their government program eligibility while ensuring they enjoy the life you have in mind for them.

Contact Attorney Steven Lundberg and his caring, capable legal team to discuss how we can help get your financial affairs in order. You can reach us by dialing 919-646-6549.