As an Orange County estate planning attorney, and mother myself, I can honestly say that that estate planning is critical for all parents of minor children.
It provides the opportunity to determine who will raise your kids if you can’t, what money will be set aside or used for their upbringing, and even what money will be used to support them as adults.
Yet each of these choices can become even more difficult when the child has disabilities, especially if he or she is receiving some type of government assistance. This is where working with an Orange County special needs planning attorney comes into play.
A special needs planning attorney is familiar with the most common choices faced by parents of children with disabilities and can offer advice and suggestions as to the best plan for your child’s care.
A special needs attorney also understands the ramifications of receiving an inheritance when it comes to eligibility for government assistance.
It’s important for parents to keep in mind that just leaving their child money outright if something happens to them can jeopardize the child’s chance of receiving Social Security or Medicaid benefits in the future.
That’s why we recommend using a “special needs” or supplemental needs trust which will be set up in such a way to meet government standards and allow for the continuation of other benefits.
However, special needs planning also covers more than just maintaining eligibility for government support. It also protects the disabled individual from lawsuits and other debts, as the trust cannot be seized in order to pay these.
This protects the trust and the individual who relies upon it for his or her upkeep.
And of course special needs planning also helps to ensure that your disabled child will be raised by the people you want, in a way you want, if something happens to you.
So if you are ready to get started in creating a plan that makes sure your disabled child stays physically and financially protected if the unthinkable happens, I invite you to give our office a call at (949) 260-1400 to schedule a Family Wealth Planning Session.
These sessions are normally $750, but we’ve made space for the next 10 area families to come in this month absolutely free of charge. Simply call (949) 260-1400 to reserve your free planning session today.