Have a loved one with special needs? There is a trust for that

by | Mar 5, 2016 | Trusts |

All parents worry about the long-term health, safety and wellbeing of their children. However, parents of children with special needs face challenges the rest of us do not. Not only must these parents care for their special needs family members far longer than parents of other kids, they must worry about what will happen to their vulnerable loved ones after they are gone.

At the Weinstein Randisi law firm, we understand the importance of advance planning to ensure New York residents with special needs are well cared for long after their parents have died. While there exists numerous government programs to benefit these members of our society often that is not enough to enhance their quality of life. With a special needs trust, your disabled loved ones can have the security of advance planning without affecting the government benefits they also require to thrive.

One of the most common questions attorneys hear from families with special needs members is this: “I have enough assets to provide for my loved one after I am gone so why do I need a special trust?” Think about it this way; first, your special needs family member may not know how to manage an inheritance after you are gone. Secondly, a special needs trust can address the unique and specific needs of your loved one where a will or other estate planning document may not.

Finally, as we have already mentioned, receiving a large inheritance can disqualify your family member from government-provided benefits that he or she may desperately need. Even if these benefits are not currently needed, you never know what the future may hold after you are gone.

It is unwise to take the future of your special needs family member for granted. We urge you to contact an estate planning attorney now so that you may preserve your child’s future long after you have departed this world.