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This may seem like the right thing to do, but the answer is actually no, and let me explain why—when planning for a loved one with special needs, you have to be extremely careful and always work with experienced attorneys like us, because if handled improperly, you can easily disqualify your loved one with special needs from much-needed government benefits. Because individuals with special needs often require a lifetime of care, most of them rely on government programs to offset the exorbitant costs of such care. However, these programs have strict income limits, so if you leave money directly to a person with special needs, such as through your will, you risk disqualifying him or her for those benefits. Instead, the government allows assets to be held in what’s known as a Special Needs Trust to provide supplemental financial resources for the person for the rest of his or her life, while preserving their access to government benefits.
However, the rules for Special Needs Trusts are complicated and can vary greatly between different states, so if you have a loved one with special needs, be sure to consult with us, your Ambitious Legacy Attorneys. We can make certain that upon your death, your loved one with special needs would have the financial means they need to live a full life, without jeopardizing their access to vital government benefits.
This article is a service of The Ambitious Legacy Firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by using the link below to schedule a call with our Client Services Director, who will be able to guide you on scheduling your Legacy Planning Session, or by emailing us at legacy@franco-lawfirm.com. Mention this article when you reach out to us to find out how to get this $750 session at no charge.
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