Establishing a Special Needs Trust for the Special People in Your Life

12:51 pm Uncategorized

happy family 150x150 Establishing a Special Needs Trust for the Special People in Your LifeOne question that more than a few of our clients ask is what estate planning tools are available to help them support the people in their lives with special needs.  Special needs can include a variety of medical conditions or situations.  Our clients know enough to know that they can’t leave an inheritance outright without jeopardizing the beneficiary’s financial assistance, but they don’t know exactly how they can help. We always tell them that the only way to leave money to their loved one with special needs is through a special needs trust.

Special needs trusts are gaining attention among attorneys, financial advisors, and in the mainstream media. A special needs trust can help by paying for things to improve quality of life that the government will not generally pay for; things such as cultural events, travel to stay in touch with family, computer and media equipment and books.

While a special needs trust must be established by a parent or grandparent, it is not limited to just minor children. It can be established for an adult of any age, and anyone can contribute to the trust.

A special needs trust can mean the difference between living an enriched life and barely getting by. If you have someone in your life with special needs, contact our Newport Beach estate planning law firm about a special needs trust as a way to leave an inheritance.

Your California legal and financial planning experts are at your service; Contact us today.

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