Any parent will attest that they want what is best for their child. This can look vastly different from family to family and from child to child. However, understanding what is best for a child means considering the needs of the child currently and in the future. For children with special needs, it can feel overwhelming to consider the future care of the child when it is currently a challenge to meet his or her changing needs. Nevertheless, it is still possible to provide for these future needs while still providing for other loved ones in the event of your death.
Financial planning can be challenging when one is unsure about what the future will entail for his or her children. However, the estate planning process can help a parent ensure that a special needs child will receive an inheritance that will give him or her peace of mind. The attorneys at The Pollan Law Firm understand the complexities that special needs planning can bring to the table. Therefore, we are dedicated to helping clients in the Atlanta area navigate these issues.
The goal of special needs planning is to provide the necessary long-term needs for a special needs individual whether they are a child or an adult. Because certain funds could be looked at as income for individuals with disabilities, our law firm helps explain this and takes the time to determine ways to protect any assets they may receive. By setting up a special needs trust, parents can feel secure about their child getting this asset without it impacting Medicaid or Supplemental Security Income.
To learn more, check out our law firm's special needs planning website. While it can be difficult to plan for the future, it can be a very valuable step to take. It requires a careful assessment of the current and possible future needs of a special needs child, which can become a complex process. Individuals seeking to include a special needs trust in their estate plan should take the time to fully understand the process and what rights they have.