If you have a loved one with special needs, we know you want to ensure they are safe and well cared for, not only during your life but after you are gone. By crafting an individualized Special Needs estate plan, you can address their finances, government benefits, and care and find the peace of mind you seek. Contact a Long Island special needs planning attorney today.
How Can A Special Needs Planning Attorney Help Me?
The world of special needs planning can seem overwhelming, and you may not even be sure where to begin. That is where our firm comes in. As a founding and active member of the Special Needs Alliance, we have a deep understanding of how this area of the law operates and how to best form a plan that meets the needs of your particular situation. So, don’t worry if you aren’t sure what questions need to be asked; we know what you need to know and look forward to working together to meet all of your challenges.
Does My Child Or Loved One With Special Needs Require a Guardian?
Not every person who has disabilities needs to have a guardian to manage their financial and personal affairs. A lot will depend on the person’s age and degree of disability. If appropriate, the guardianship process will be tailored to the specific needs of your loved one. This is a court process that takes time and careful planning, and we recommend starting the process sooner than later. It’s important to have an experienced Long Island special needs planning attorney to help you with this process.
What is a Special Needs Trust?
A Special Needs Trust (SNT), sometimes called a Supplemental Needs Trust, is like any other trust where a trustee holds assets for the benefit of a beneficiary. What makes an SNT different is that the trust will benefit the person with special needs (the beneficiary) while maintaining their needs-based government benefits. Advantages to an SNT include:
- Protection of Assets
- Provides needed funds while preserving government benefits
- Trustee management of funds
About ABLE Accounts
The ABLE (Achieving a Better Life Experience) ACT introduced the creation of ABLE ACCOUNTS to improve the lives of people with special needs. The money put into the account can be used for anything that would benefit the person with special needs without affecting their government benefits, such as Medicaid and SSI.
There are some rules which an attorney at the firm will explain, but when used properly, either with or without an SNT, it is effective in enriching and providing those with special needs with independence and the freedom to do some things for themselves.
Speak With a Special Needs Planning Attorney At Our Firm
Don’t wait to set up a plan for your loved one with special needs. Contact our firm, Davidow, Davidow, Siegel & Stern, to find out more about the legal options that are available. We can be reached online or by calling (631) 234-3030, and our main office is centrally located on Long Island.