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• Special Needs Trust

Blog

Special Needs Trust

• IMPORTANT REPORT EVERY SPECIAL NEEDS FAMILY MUST KNOW ABOUT ESTATE PLANNING
• Planning for your autistic child’s future can bring peace of mind
• Five estate planning mistakes made by parents with special needs children
• Could you benefit from a Special Needs Trust?

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News

• Many special needs children lack plans for lifetime of care...
  Posted on 4/17/2009
• Importance of Special Needs Trusts Highlighted by Non-Profit...
  Posted on 3/4/2009

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Library

Special Needs Trust

• Part 11 of 12 - Facts Every Special Needs Family Must Know About Estate Planning
• Part 12 of 12 - Facts Every Special Needs Family Must Know About Estate Planning
• Part 9 of 12 Facts Every Special Needs Family Must Know About Estate Planning
• Part 7 of 12 - Facts Every Special Needs Family Should Know About Estate Planning
• Part 8 of 12 - FACTS EVERY SPECIAL NEEDS FAMILY MUST KNOW

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Part 8 of 12 - FACTS EVERY SPECIAL NEEDS FAMILY MUST KNOW

Fact # 8 – Know the effect of an outright gift to your special needs child.

An outright gift or “bequest” to a special needs child will count as available resources to him/her and can result in the loss of eligibility for government benefits or increased financial liability for those benefits. You must decide whether the assistance available to your special needs child through your estate is sufficient, making the government benefits unnecessary for his or her lifetime needs. Doing this wisely involves reviewing the value of your estate, the needs of your special needs child, the degree and type of care he or she will require, his or her other sources of income, and the needs of your spouse and other children.

In addition to of the potential of losing valuable benefits, it is equally problematic leaving valuable assets to an individual unable to handle them. In such case, a court is likely to appoint a guardian for that individual’s estate, person, or both. The drawbacks of guardianship are discussed below.

An outright gift by a will to your special needs child is desirable only when he or she is able to manage his or her fiscal affairs and when government benefits will not be jeopardized by, or are far outweighed by, the bequest.

Special Report

Order our Pennsylvania Elder Law Attorney's Guide To Alzheimer's Care

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questions

Special Needs Trust

• Is there a difference between a special needs trust and a supplemental needs trust?

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