There are many different ways to facilitate asset transfers. It is important to consider the life situation of every person on your inheritance list. The right way to provide for one person may not be appropriate for the next. This definitely enters the picture when it comes to estate planning for people with special needs. Government Benefits In the United States, most people get health insurance through their employers. Unfortunately, a significant percentage of folks with disabilities … [Read more...] about Special Needs Planning: Life Enhancements With No Loss of Benefits
Special Needs Planning
It is difficult to lose a loved one, and no one wants to receive a financial windfall at the expense of someone they care about. At the same time, the decedent’s assets have to be transferred to someone, so an inheritance is going to be welcome in almost all cases. There are certain circumstances that can muddy the waters. Planning for a person with special needs is one of them. Medicaid and Supplemental Security Income A significant percentage of individuals with disabilities are not in a … [Read more...] about How Can an Inheritance Be a Bad Thing?
When you are planning your estate, you should carefully consider the life situation of each of your beneficiaries. The method of transfer to one beneficiary may not be appropriate for another. When it comes to providing for a person with special needs, you must take benefit eligibility into consideration. A significant percentage of people with disabilities rely on Medicaid as a source of health insurance. This is a need-based benefit that is only available to individuals with very limited … [Read more...] about Special Needs Planning and Medicaid Estate Recovery
People with disabilities are likely to need very expensive medical care throughout their lives. While many Americans get health insurance through their employers, people with special needs are not in a position to work, thereby denying them this benefit. Fortunately, a solution exists in the form of Medicaid. This is a jointly administered federal/state government health insurance program. Many people who qualify for Medicaid also receive modest monthly benefits through another program … [Read more...] about Can You Fund a Special Needs Trust With a Settlement?
For any parent, the desire to protect and provide for a child is a strong motivating factor within their estate plan. For the parent of a child with special needs, protecting and providing for their child takes on a heightened importance because their child may never be completely independent. Achieving those goals, in turn, requires careful estate planning which often includes the inclusion of a special needs trust. For those who are unfamiliar with a these trusts. What Is a Special Needs … [Read more...] about What Are the Different Types of Special Needs Trusts?
A special needs planning attorney at Parman & Easterday can provide personalized advice to parents with a child with disabilities. If your child has a disability, it is important that you work with a compassionate and knowledgeable attorney to create a special needs plan. This plan is vital to ensure your child is safe and provided for throughout his or her lifetime. Parman & Easterday has helped many families with the special needs planning process. In every situation, we provide an … [Read more...] about The Steps Involved in Special Needs Planning
Trust administration attorneys at Parman & Easterday provide parents with planning for the care of a child with special needs. When you have a child with special needs, the estate planning process should begin as soon as possible to ensure your child will be provided and cared for appropriately if something happens to you. You need to ensure you have planned for the child's care throughout your lifetime, including making certain your child can afford necessary care as an … [Read more...] about Making Plans For the Care of a Child With Special Needs
Medicaid attorneys at Parman & Easterday can provide you with assistance if you are making plans to provide a financial gift to any person who is seriously disabled or who has special needs that require specialized care. If you are planning on giving a financial gift during your lifetime or as a part of your legacy, you need to work with an attorney first so your efforts to provide financial support do not backfire. Parman & Easterday is here to help you understand what the … [Read more...] about Why is Special Needs Planning Important to Ensure Continued Access to Medical Care?
You hear a lot of different terms tossed about in estate planning and questions naturally arise. We want to take a look at some of estate planning devices so we can provide readers with an ever-broadening estate planning vocabulary. With this in mind we would like to take a look at special needs trusts. If you want to plan your estate effectively you should look for an estate planning attorney who will provide you personalized attention. Different families have different objectives based … [Read more...] about What Is A Special Needs Trust?