Parents who have a disabled child often have concerns about how that child will be cared for when the parents are no longer alive. If the parents give the child an inheritance in a traditional fashion, the disabled child may no longer qualify for government aid.
Therefore, in these circumstances the attorneys at the Yanowitz Law Firm can establish a supplemental needs trust. Most noteworthy, with this type of trust, the child can continue to qualify for government aid, and the funds in the trust can be used to pay for expenses which are not covered by government aid.
Special Needs Trusts
Additionally, our lawyers regularly assist clients in establishing special needs trusts. These trusts are used when the disabled individual already have assets in his or her individual name. For example, a healthy individual is in a car accident and suddenly becomes disabled. Without this type of trust, the funds in the individual’s name would normally be rapidly spent down paying for medical care before the individual might qualify for government assistance. At that point the individual would be left with very little assets. We can help solve this potential problem.
The rules regarding supplemental and special needs trusts are complex. As a result, at Yanowitz Law firm we can construct plans that will allow individuals to receive their needed care.