Are you concerned about the well-being of a loved one with special needs? Do you have a plan in place to ensure that this person is in good hands, even after you’re gone?
If you’ve yet to consider the benefits of special needs planning, now’s the time to do so. Once you have the right plan in place, you’ll feel much better about their future well-being — even when you’re not around to help.
Here are some of the reasons why special needs planning is s a must:
- Financial management assistance: A person with a disability may not be able to manage their own finances. This includes everything from bank accounts to real estate. With a special needs trust, for example, you can ensure that the right person is available to help them with this.
- Protect their government benefits: It’s a common belief that the best way to care for a special needs individual after your death is to leave your assets behind to them via a will. Doing so is a mistake, as it could disqualify them from receiving government benefits in the future. It’s best to create a special needs trust.
- A place to live: You can’t assume that your loved one will have a place to live upon your passing. This is particularly true if they currently reside in your home. You must plan for this in advance, as neglecting to do so is a risk that’s not worth taking.
Now do you see why special needs planning is a must? If you don’t take the right steps today, it could put your loved one in a precarious position down the road.
Rather than take any risks, contact us to learn more about the finer details of special needs planning. Once you have a concrete plan in place, you’ll know that your loved one will always be taken care of.