Planning for your future and the future of your beneficiaries can be tough, but it can be even harder when planning for persons with disabilities. We understand how challenging it can be for you and your family, especially if this is the first time developing an Estate Plan, that’s why Elder Law Services of California is here to give your family peace of mind for the future.
What is a Special Needs Trust?
A Special Needs Trust enables people who are disabled, either mentally or physically, to receive an inheritance such as a home, life insurance, liquid accounts, etc, without jeopardizing their public benefits. This Estate Planning tool is created for disabled beneficiaries so they can obtain their rightful inheritance while allowing the beneficiary to receive essential needs-based government benefits, such as Medi-Cal, Supplemental Security Income, Social Security Disability Insurance, and etc,.
According to the Institute of Disability, if people with disabilities were a formally recognized minority group, at 19% of the population, they would be the largest minority group in the United States. With its diversity in gender, age, religion, ethnicity, and socioeconomic level, these 1 in 5 Americans lack representation in Estate Planning. A Special Needs Trust is a device that is highly technical and should only be handled by an attorney, making even the smallest oversight a significant outcome for the beneficiaries.
In Need of a Special Needs Trust?
Don't hesitate to wait, a special needs provision that needs to be added to your current trust or included in the trust you are thinking about making should be a first priority. Take advantage of our FREE CONSULTATION, and let Elder Law Services of California, APLC help you today.