If you have a loved one who has special needs, then it is imperative that you consult with an estate planning attorney as soon as possible about all of your options. This is because individuals providing assistance to those with special needs have certain considerations that should be evaluated by a knowledgeable Massachusetts estate planning attorney.
In many cases, individuals with disabilities qualify for government assistance like Medicaid, subsidized housing, supplemental security income or vocational rehabilitation. If you make the mistake of leaving assets behind to an individual with special needs through a will, acquiring these kind of large assets can actually disqualify an individual with special needs from these critical government benefits.
Thankfully, however, there are options if you consult with an estate planning attorney. A special needs trust, for example, allows you to avoid these challenges. The trustee is appointed who has total control over the fund management. This allows someone else to help provide the critical care for your loved one.
One of the other major benefits of establishing a special needs trust is that if the beneficiary were ever to be sued, the funds inside the trust would be protected and not subject to any judgement.
A trust may be part or the whole of your special needs estate planning process. So you should consult with an attorney as soon as possible to determine whether it is appropriate for you or not. A Massachusetts estate planning attorney can help you accomplish a special needs trust and talk about the short and long term care considerations associated with a beneficiary with special needs.
