If you are someone who has a family member with special needs, you must understand that it is of paramount importance to create an estate plan that accommodates them. There are several misconceptions regarding estate planning for special needs individuals, and this blog seeks to put those to bed, as well as inform you of the correct means forward. Creating a comprehensive estate plan tailored to your loved one’s needs is one of the best things you can do for your loved one. Do not wait another day. Please read on and reach out to our experienced Maryland estate planning attorneys to learn more about how we can help you. Here are some of the questions you may have regarding the legal process going forward:
Will my loved one with special needs lose his government benefits if I include him in my will?
One of the biggest mistakes parents of children with special needs make is disinheriting their special needs child for fear of him losing out on government benefits. Fortunately, there is a way for your child to inherit your assets and keep his government benefits. An experienced estate planning attorney can help you establish special needs trusts, which are an excellent way to ensure your loved one is taken care of, at all stages of his life.
These government benefits, including SSI or Medicaid, can help your child receive medical and dental care, transportation services, education, and other necessary assistance. Your child cannot afford to lose these things, so it is always best you retain the services of a compassionate and knowledgable attorney who understands the importance and sensitivity of the matter.
Why is it a bad idea to rely on your children to financially care for their sibling with special needs?
First, let it be known that this has nothing to do with trust. Of course you trust your children will advocate and act in their sibling’s best interest. However, in certain cases, what happens with assets in your estate plan may be out of their control, and even if you leave directions in your will that the money is to be used to care for their sibling, they may lose it–in multiple ways. For example, if they ever got divorced, their spouse may be entitled to half of the assets. Do not let this happen. If you have a child with special needs, the time to act is now. Reach out to our firm for the legal assistance you need to ensure your loved one with special needs is taken care of.
Contact our experienced Maryland firm
The attorneys at JD Katz have years of experience compassionately guiding clients in Maryland through the estate planning and administration process. Our firm also has experience with matters of elder law, business law, tax law, and litigation. For a legal team that will put your needs first, contact JD Katz today.