As many consumers have found, the search for professionals
knowledgeable in the area of special-needs estate planning, and the protection
of assets and benefits, can be very frustrating. Although many estate planning
lawyers will assure clients of their ability to perform this specialized work,
parents should be extraordinarily cautious in deciding which lawyer to retain.
knowledgeable in the area of special-needs estate planning, and the protection
of assets and benefits, can be very frustrating. Although many estate planning
lawyers will assure clients of their ability to perform this specialized work,
parents should be extraordinarily cautious in deciding which lawyer to retain.
There are a relatively small
number of lawyers who have come to the law through the human services
professions, equipped with the practical knowledge necessary to evaluate
clients and their disabilities. Parents should seek financial planners who are
familiar with the expenses of raising a special-needs child.
number of lawyers who have come to the law through the human services
professions, equipped with the practical knowledge necessary to evaluate
clients and their disabilities. Parents should seek financial planners who are
familiar with the expenses of raising a special-needs child.
Most important, special-needs
trusts should not be boilerplate documents. Every individual with special needs
is unique. The document should show understanding of the person’s situation and
capabilities.
trusts should not be boilerplate documents. Every individual with special needs
is unique. The document should show understanding of the person’s situation and
capabilities.
Parents and beneficiaries can
also use special-needs trusts to support advocacy and charitable organizations
through charitable remainders, which can be incorporated into the trust. In
this way, parents can not only insure the livelihood of their own children, but
also guarantee the security of those with disabilities for years to come. Source: NYTimes.com
also use special-needs trusts to support advocacy and charitable organizations
through charitable remainders, which can be incorporated into the trust. In
this way, parents can not only insure the livelihood of their own children, but
also guarantee the security of those with disabilities for years to come. Source: NYTimes.com
Nice post. Thanks for the sharing.