Necessity for a Special Needs Trust
Do you need help in setting up a special needs trust for a disabled son or daughter in Wooster,
Cleveland, or elsewhere in northern Ohio? If so, I may be able to assist you in accomplishing this very important legal task. I offer knowledgeable legal service in the particularized field of estate planning for families with special needs children.
Many estate planning tools exist which will conserve your assets, lessen your tax burden and other estate expenses, while maximizing the benefits for your special needs child into and through their adulthood once you are gone. Because I focus exclusively on this field of law, I can provide highly-qualified and dedicated legal service, including the creation of a special needs trust.
What is a special needs trust?
A special needs trust will permit your disabled child to receive monetary gifts, lawsuit settlements, or other funds to be used for their care and enhancement which will not jeopardize their eligibility for certain public assistance benefits. Government assistance programs are based on a person's income or assets. A special needs trust is created so the funds you designate for your disabled child will not be owned by him or her but protected, controlled, and managed by a trustee for his or her benefit.
Special needs trusts are sources of funds that will supplement your disabled child's public assistance benefits. The funds from such trusts may pay for education, recreation, medical and dental expenses, yearly medical checkups, special equipment, such as special needs vans, insurance policies, transportation expenses, or dietary needs. Where funds are available, they may also be used for spending money, electronic equipment such as computers, laptops, cell phones, and more, vacations, movies, or other life-enhancing pursuits or equipment.
If you would like to learn more about creating a special needs trust as part of your estate plan, I urge you to contact me as a Wooster special needs trust lawyer so that we can schedule an initial consultation about your specific circumstances and objectives.