Raising a child with special needs or serving as a fiduciary for a child or an adult with a disability, requires extra care and specific expertise when preparing an estate plan.
Whether the dependent is a minor or an adult, a comprehensive, up-to-date plan to protect his or her long-term financial wellbeing is prudent.
This is especially important when the dependent is—or eventually will be—receiving needs-based public benefits such as Medicaid, ALTCS and SSI payments.
Our special needs planning attorneys help manage the individual’s affairs without jeopardizing his or her rights to public benefits by:
Designing special needs trusts that protect benefits and assets
Establishing conservatorships and guardianships for children approaching age 18
Guiding fiduciaries through the trust administration process without disruptions in benefits
Because special needs individuals’ conditions may become more or less acute as they age, and the level of help they require can fluctuate over time, it’s imperative their estate plan evolves to keep pace with any and all medical and financial changes. Taking the specific situation into account, our special needs estate planning attorneys build flexibility into your plan, which may include establishing a first- or third-party special needs trust. Special-needs trusts help disabled and incapacitated Florida individuals take advantage of public benefits programs and other planning opportunities.
To learn more about how our expertise can benefit special needs planning, contact Boyes, Farina & Matwiczyk today.