Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

A Member of the Law Professor Blogs Network

Monday, July 7, 2014

Planning for a Special Needs Child

Special needsThe number of students with disabilities has increased at a faster rate than both the general population and school enrollment.  In 2010, approximately 2.8 million school-age children were reported to have a disability. 

Many parents assume that they will be forced to disinherit their child with a disability because if they leave them money, they will lose the government benefits.  While it is true that your child could be disqualified from benefits if you are not cautious, creating an effective estate plan that includes a Special Needs Trust can help preserve a child’s eligibility for government benefits and other programs.

A Special Needs Trust is an effective way to leave assets intended for that child in the trust to supplement benefits received from government programs.  Instead of paying for medical care, the trustee can use the funds in the Trust for the “best use and comfort” of the beneficiary and pay for items and services Medicaid will not.  A properly designed Special Needs Trust can ensure your child will receive your assets, your retirement funds, and any other items of value without generating negative consequences. 

See Mark Eghrari, No, You Don’t Have to Disinherit a Child With Special Needs, Forbes, July 2, 2014. 

http://lawprofessors.typepad.com/trusts_estates_prof/2014/07/planning-for-a-special-needs-child.html

Disability Planning - Property Management, Estate Planning - Generally, Trusts | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef01a3fd2d202d970b

Listed below are links to weblogs that reference Planning for a Special Needs Child:

Comments

Post a comment