Special Needs Planning Attorney
in Brookfield, Wisconsin

Special Needs Planning

In the event that you would like to leave cash or property to a friend or family member with a disability, you should be sure that your estate plan is designed  cautiously to ensure that your gift does not inhibit your loved one’s ability to qualify for public/disability benefit programs.

In many cases, failing to plan for a beneficiary with special needs in your estate plan can lead to your loved one becoming ineligible for public benefit programs and your loved one may be required to spend the gift down before qualifying for public benefits.

To avoid these common pitfalls, our estate planning attorneys are happy to discuss various options for leaving assets to a disabled loved one, such as adding a “special needs trust” provision into your will or trust with language that can allow your loved one to benefit from your gift while allowing your loved one to receive support from public benefit programs.

How A Special Needs Trust Can Help?

Rather than leaving property outright to your loved one, you can instead leave the assets to a special needs trust for their benefit.

You can choose somebody to become the trustee, who will be responsible for managing and distributing the assets for your loved one throughout their lifetime.

When properly drafted and implemented, the assets in the special needs trust will not negatively impact your loved one’s eligibility for public benefit programs, such as SSI and Medicaid.

You can also decide what the funds can be used for or you can choose to give the Trustee more freedom to decide what the funds are used for on your loved one’s behalf. You can also determine where any remaining funds should go following your loved one’s passing.

The Benefits Of Special Needs Trusts

Customarily, individuals with handicaps meet all requirements for government help, for example, Supplemental Security Income (SSI), Medicaid, professional restoration, and sponsored lodging.

Numerous individuals tragically leave resources for their disabled friends and family through a will or through a living trust outright.

This is dangerous in light of the fact that someone receiving resources through government benefit programs may be disqualified after receiving an inheritance.

Special needs trusts can likewise be utilized to set up legacy assets or continues from a settlement for the handicapped individual.

A special needs trust may also help to protect your loved one’s inheritance form creditor or even divorce situations.

There are many different types of special needs trusts. Each type has its own benefits and risks. You should speak with an attorney to help you choose the best type of special needs trust for your situation. With some special needs trusts, attorney’s fee reimbursements and grants may be available.

Please contact us for a complimentary consultation to determine whether this is right for you.