If you have a loved one with special needs, you likely worry about who will take care of them if you are no longer here or are otherwise incapacitated. Thankfully, there are legal tools available to assist you in ensuring your loved one always receives the care they need. At Michelle Tuschinski, Attorney at Law, we assist Virginians with different methods of estate planning, including planning for a loved one with special needs.
Why Special Needs Planning Is Necessary
Many persons with special needs depend upon the services provided by government-sponsored programs for their basic needs, such as housing, assistance with food, and insurance. However, many of these programs are not available to people with special needs who have an income or net worth that exceeds a certain amount. This is why special needs planning is so important.
With proper planning, a person with special needs may be able to receive assistance from family and loved ones without being disqualified from government assistance programs. Such planning allows the person with special needs to receive the care to which they are entitled while also enjoying the funds provided by their family.
Special Needs Trusts
A special needs trust (SNT) is one of the most common and effective legal tools utilized in special needs planning. In basic terms, a trust is a separate legal entity into which assets may be placed. The assets can then be dispersed to the person with special needs as required. One of the benefits of a trust is that a trustee can manage the funds to ensure they are not wasted or used for any purpose other than the care of the person with special needs.
Guardianship
If you are the parent of a special needs child approaching the age of 18, you will need to consider obtaining guardianship over them so you can continue to make decisions regarding their well-being and care. At Michelle Tuschinski, Attorney at Law, we can help with the guardianship process.
Contact Michelle Tuschinski, Attorney at Law, To Find Out How You Can Protect Your Loved One With Special Needs Even After You Are Gone
If you have a loved one with special needs, contact our firm to learn about the options available to you to make certain that your loved one’s needs are met even when you have passed away or are incapacitated.