Making sure that a disabled individual or a child with special needs is taken care of is very important. We want to make sure we address those potential issues from the start when we draft a estate planning for a client.
What we can do is make sure that we put a special needs trust in an individual’s estate planning. That can be incorporated in a will or in a revocable living trust to insure that at the time the individual dies, any assets which are for the benefit of that disabled person are put into what we call a special needs or a supplemental needs trust. The beauty of these trusts is it allows the funds which I inherited to be used to benefit the disabled individual, but it will not count as an available resource for governmental benefit eligibility, which means the disabled individual who may be collecting Supplemental Security Income or Medicaid may benefit from inheritance without losing the governmental benefits which are needed to make sure that he or she can live successfully.