When you have a child or other family member who suffers from a disability, you are committed to taking care of them during your lifetime. That means seeing to their day-to-day needs and ensuring their future care is also in place. Do you worry about the kind of care and attention they will receive after you are gone? If one of your goals is to ensure they are provided for financially and that they do not lose any existing benefits they might be receiving, you may want to consider establishing a Special Needs Trust.
A Special Needs Trust is created to manage and disburse property and assets for someone who receives SSI or Medicaid benefits. When you create and fund a Special Needs Trust for someone other than yourself, you are able to leave them an inheritance that can be distributed by the Trustee in a manner that will not cause the recipient to become ineligible for government assistance. The Special Needs Trust will also protect the assets in the trust account from creditors including judgments from lawsuits that might be filed against the recipient.
In addition, the funds in a Special Need Trust can be used to provide for the recipient’s daily needs like food, toiletries, and clothing as well as many other items or services they may need as determined by the Trustee. Lastly, you can specify who will receive any assets in the trust upon the recipient’s death. All these reasons make a Special Needs Trust an excellent way to leave provisions and protection for your loved ones with special needs and certain disabilities.
Setting up a Special Needs Trust can be complex and time-consuming without the help of a skilled, experienced, estate planning attorney. When you contact the attorneys at Grissom Law, LLC, you get the help of a lawyer who understands the details and nuances of Georgia law – one who can help you leave a legacy of caring and concern for the people you love. That means your loved ones will be able to rely on you now and in the future.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.