Sep 14, 2016
By estate planning attorney Rick Law. Rick is founder of the Estate Planning Center at Law Elder Law in West Suburban Aurora, IL. LEL is a multi-generation law firm.
Any of a number of institutions could make sure your special needs child has a bed, basic care, and three square meals a day.
But that’s not what life is all about, is it?
A special needs trust is more than just making sure your child has the barest of bare necessities taken care of. It’s about providing kindness, love, and even fun events for your child with special needs – even after you’re no longer there to provide it.
You see, a Special Needs Trust (SNT) is a way for parents to leave money for the needs of their child beyond what public benefits would pay. A SNT can provide supplemental funds for recreation, social activities, pets, special therapies, entertainment, and even vacation opportunities for the disabled child. A SNT can also purchase professional care management, which can enhance not only the dignity, but also the quality of life of a disabled child.
In addition, it’s designed to work in partnership with any public benefits that a child may be receiving, such as Supplemental Security Income or Medicaid so that it doesn’t jeopardize those helpful tools.
The purpose of a SNT is that it allows a senior citizen parent who cannot give the money directly to his or her disabled child to create a trust that can be used to provide for tender-loving-care “extras” of life. This trust can allow you to continue to provide love and protection for your child while simultaneously preserving his or her eligibility for public health and Medicaid benefits.
It’s important to work with a qualified special needs attorney to put together a Special Needs Trust – it can help make the process much less complicated. It’s no small feat to put together the appropriate plan to provide ongoing protection and care while avoiding putting public benefits at risk. The results are well worth the effort to provide for someone you love, who desperately needs your lifelong care and protection. Call my office at the number below to schedule a consultation to talk about your special needs child or grandchild.
Too many families needlessly lose everything they have. Don’t let that be you. If you need help paying the overwhelming cost of long term care, give our office a call at 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now, because when you’re out of money, you’re out of options!
Rick L. Law, Attorney, Estate Planner for Retirees.
Rick was named the #1 Illinois elder law estate planning attorney by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Call 800-310-3100 for your free consultation now!
My wife and I had our first child three years ago. That’s when we decided to set up a trust, should anything happen to either of us. We reached out to Zach Hesselbaum to help us out. He was very thorough and professional throughout the whole process. Zach went above and beyond to make sure that we understood every detail of setting it up and he did an excellent job. We recently had our second child a few months ago. With the new baby, he helped us make the necessary revisions to the trust. Zach made this process great for us! I would definitely recommend using him for any of your estate planning needs!
Tom G., Naperville, IL