Raleigh Special Needs Planning Lawyer Helping Families Protect Their Loved Ones
Estate planning is always complex, but this is especially true if you have a family member with special needs. Many disabled people rely on their loved ones for help on a regular basis. If you are a caregiver, it’s important to put an estate plan in place that ensures your loved ones with special needs are cared for after your death. Special needs estate planning can also help in the event that you are unexpectedly disabled and unable to care for yourself or your loved ones.
No one knows what the future holds, but the special needs planning attorneys at NC Planning can help you prepare for it. If you are ready to create an estate plan, contact our attorneys as soon as possible to discuss your unique situation.
Is Your Loved One With Special Needs Eligible For Government Benefits?
Your loved one with special needs may qualify for certain government benefits, including Medicaid, Supplemental Nutrition Assistance Program (SNAP), and Supplemental Security Income (SSI). Medicaid provides health insurance benefits to disabled individuals who meet certain eligibility requirements. If your loved one qualifies for Medicaid, this program may cover the cost of medical care and other health-related expenses.
Your loved one may also qualify for SNAP, which are benefits that can be used to purchase specific food items in retail stores.
Finally, many people with special needs qualify for SSI benefits, which are administered by the Social Security Administration (SSA). These benefits are paid monthly to eligible disabled individuals.
How Can Creating A Special Needs Trust Benefit Your Loved Ones?
Your loved one may currently qualify for the government benefits mentioned above, but that could change if they receive an inheritance from you after your death. Medicaid, SNAP, and SSI are all needs-based programs. This means that disabled individuals will not qualify for these benefits unless they can prove that they have limited financial resources. If your loved one inherits cash or other assets from you, they may no longer qualify for these programs.
If your loved one has special needs, it’s important to put a plan in place that will provide for them without forcing them to sacrifice their government benefits. A special needs trust can help you achieve this goal. The person you appoint as trustee will be responsible for managing the trust and spending the money on behalf of your loved one with special needs. This ensures that your loved one with special needs will be provided for, but since the money is not technically in their name, the special needs trust will not affect their eligibility for government benefits.
If your loved one has special needs, it’s imperative to create a special needs trust with the help of an attorney.
Why Is It Important to Name A Guardian in Your Estate Plan?
Another issue that should be addressed in your special needs estate plan is guardianship. If you have a minor child with special needs, it’s important to appoint a guardian in your estate plan. This person will be responsible for caring for your minor child in the event that you and your child’s other parent both pass away unexpectedly. If you fail to include this in your estate plan, the court will have the power to name a guardian for your child after your death. Don’t leave this important decision up to the court—create an estate plan that addresses this issue with the help of our attorneys.
Schedule A Consultation to Discuss Your Special Needs
Everyone can benefit from estate planning, especially people who have loved ones with special needs. As a caretaker, you have a responsibility to put a plan in place that ensures your loved one with special needs is properly cared for in the event of your death or disability. You may think that you have plenty of time to put this type of plan in place, but the truth is that it’s never too early to start planning ahead. Don’t wait any longer—take the first step towards creating a plan by contacting our attorneys today.
Every special needs estate plan is different. Tell our attorneys more about your situation so we can create a plan that is customized to meet your unique needs. Give us a call at (919) 900 4720 to begin preparing for the unexpected before it’s too late.
