Special Needs Planning
NEW YORK SPECIAL NEEDS PLANNING
There are at least three things you must consider in planning for the future of your disabled loved one: Guardianship, Supplemental Needs Trust, and Estate Planning.
There are other things – such as writing a Letter of Intent, obtaining a government ID, and registering with OPWDD – that are equally important. The above three things are the ones you may need a lawyer to help you with.
Guardianship gives you authority to make decisions for your loved one, even after he or she becomes a legal adult.
A Supplemental Needs Trust (also known as a Special Needs Trust) lets you provide for your loved one without endangering his or her eligibility for government benefits.
Estate Planning makes the Supplemental Needs Trust an effective part of your overall plan.
Once the Supplemental Needs Trust is set up, it must be integrated with your overall estate plan to make it effective. An estate planning attorney can help you do this. Considerations include how to fund the Supplemental Needs Trust, and how to combine it with other purposes you have in mind for your estate. In this way, the Trust becomes part of a total family plan.
If you have a loved one with special needs, planning helps give you peace of mind. Call today.