What do I Need to Know About Special Needs Planning in California?

People create an estate plan in order to properly prepare themselves and their estate for the future. In many ways, this means providing for certain loved ones when they are no longer around to do so themselves. It is especially important for people to provide for a loved one with special needs. There are many ways this can be done that is not as simple as including them in a will or a trust. Continue reading below to learn more and contact an experienced California estate planning attorney for assistance. 

Why is a Will or Trust Not Enough?

When dealing with estate plans, direct distributions of funds from the estate can inadvertently disqualify a person or their loved ones from government benefits. It is because of this that it is important to consider a special needs estate plan to provide loved ones with special needs a future that includes more than essentials, such as food, shelter, and medical care. Special needs estate plans focus on certain unknown issues that can arise overtime to be sure the loved one will never be without “non-essentials” that are not covered by government-funded programs. This can include companionship, clothing, any necessary aid, dental care, the ability to see family, and more. 

Who Needs a Special Needs Estate Plan?

There are a variety of individuals who may need the assistance of a special needs estate plan. This can include those who will never be able to live independently due to certain conditions. This can include autism or Down Syndrome. Others who may need this plan can include those with a progressively debilitating disease, such as Parkinson’s, Alzheimer’s, or ALS. 

What is a Third-Party Supplemental Needs Trust?

Depending on a family’s circumstances, a third-party supplemental needs trust may be beneficial. This is not an estate plan, but a trust that is set up to benefit an individual with special needs by a third party. This person is often a family member or friend. The trust is created with money that is set aside by a loved one to provide for the person with a disability. The trust makes assets available to them without making them ineligible for public benefit programs, such as Medicaid and supplemental security income (SSI).

Contact our Firm

Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most.Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.

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