Archive for July, 2010
Many parents think that when their child with special needs turns 18, a guardianship will immediately need to be established. While a guardianship is necessary for some children with special needs, not everyone is a candidate. The young men and women who do not require guardianships may still need and want their parents or other [...]
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When considering how much money you will need to fund a special needs trust, you may wish to consider items that will offer your child a better quality of life. Government benefits are designed to provide basic food and shelter, but they will not offer your child any of the extras he is used to. [...]
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“Care-Givers Need Caring, Too!” Guest – Diane Cooper
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Creating an estate plan for one’s family can be a difficult and complex process. However, receiving an inheritance can be almost as difficult as creating an estate plan, as there may be many challenges and questions that arise. When you receive an inheritance, you will have to consider the effect this will have on your [...]
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A child with special needs deserves a parent’s continued stewardship and guidance, even if the parent becomes incapacitated or passes away, and the following estate planning documents are key to ensuring the child’s security. (1) A last will and testament. (2) A general durable power of attorney (“GDPA”). This document designates an agent to act [...]
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A Special Needs Trust (SNT), also sometimes referred to as Supplemental Needs Trust, is used to provide supplemental benefits to seniors or individuals with a disability without disqualifying them for government benefits such as Medicaid and SSI. The SNT is meant to cover the expenses of goods and services that are supplemental to the beneficiary’s [...]
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