Understanding the pitfalls associated with special needs planning is a must for all who assist families with loved ones with special needs. At LA Law Center, PC we want to make sure any family with these concerns know what they need to know to protect their loved ones.There are many misconceptions that may become very costly in the future as fiscal pressures cause state and federal governments to cut back benefits for people with disabilities. So it is critically important that you proactively and properly plan for loved ones with special needs.
The budget pressures of the federal and state governments make proactive planning for special needs beneficiaries increasingly more important. It is important not to make the mistakes below that could cause special needs beneficiaries to rely exclusively on shrinking government funds, or that place them in unduly restrictive or ineffective structures.
Many disabled persons receive Supplemental Security Income (“SSI”), Medi-CAL (Medicaid) or other government benefits that provide basic food, shelter and/or medical care. Many professionals(Family Attorneys or Tax Advisors) give bad information and suggest that families disinherit special needs loved ones to protect the public benefits. However, you need to discuss your family situation with an Elder Law Attorney that understands how to protect a special needs person and ensure the best quality of life possible that may include the benefits of inheriting family money. The best solution is to create a special needs trust to hold the inheritance for a special needs beneficiary. A properly drafted special needs trust will protect public benefits a disabled beneficiary may be receiving, and it will provide for proper care of that individual throughout their lifetime.
Please check back we our blog and we delve more into how to protect loved ones with special needs. For specific inforamtion, we offer a free consultation on the phone or in out office. Please call (818) 241-4238.