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?
Estate planning for children with disabilities is important for any parent with a special needs child. When your child has a disability and will need additional support from you for the rest of his or her life, crafting an estate plan to meet these individual needs takes careful planning. Most people who have a child with disabilities create estate plans that others do not need. Knowing how to craft these so they mesh with your other estate planning goals is essential. Estate Planning … [Read more...] about Understanding Estate Planning – Estate Planning for Children With Disabilities
What is a Special Needs Trust in Oklahoma from Larry Parman When you are planning your estate, you have options. It is important to understand the facts so you don't make any mistakes. Learn more about special needs trust in Oklahoma in this presentation. … [Read more...] about What is a Special Needs Trust in Oklahoma
Medicaid is a government-run health insurance program. The program is administered by the federal government along with each respective state government. There are federal guidelines, but the exact way that the program is administered will vary on a state-by-state basis. The Medicaid program is only available to people who can demonstrate significant financial need. There are Medicaid recipients who are healthy, but many disabled people are enrolled in the Medicaid program. People with … [Read more...] about Medicaid, SSI and Special Needs Trusts
New parents are often overwhelmed due to sleepless nights and unexpected financial burdens to focus on the steps necessary to safeguard their children’s future in the event one or both parents pass away. We recommend new parents consider the following actions as an essential part of starting a new family. … [Read more...] about 4 Key Estate Planning Actions for New Parents
When you are looking through your inheritance list you should consider the life situation of each person that you are going to be including. There are different ways to transfer assets. The best course of action is going to vary person by person. This comes into play when you are leaving an inheritance to an individual with a disability. … [Read more...] about What Is a Supplemental Needs Trust?
Every estate plan is not going to be identical to the next one. This is one of the problems with do-it-yourself estate planning downloads and worksheets. The idea is that you can simply download generic documents online and fill in the blanks. You then have a comprehensive estate plan, and there is no need for any further action. If you were to go this route you would probably create a Last Will and Testament. Let's examine what might happen if you use a Last Will to leave behind assets to a … [Read more...] about How Much Does a Special Needs Trust in Oklahoma City Cost?
There are different ways that you can go about planning your estate. It is not always going to be a matter of drawing up a last will or simple living trust that explains how you want a pie of sorts sliced up among multiple people. There are websites on the Internet that sell do-it-yourself estate planning notions. They suggest that it is easy to plan your own estate by creating a last will or perhaps a revocable living trust. … [Read more...] about When Do I Need a Special Needs Trust?
Are you the parent of a disabled adult child? Have you been appointed as his or her guardian by a court of law? If not, are you aware that your legal rights to make decisions for your child are severely limited? Far too often I hear about parents who failed to obtain guardianship of their disabled child after the child became an adult. Usually this is because they were unaware that they lost all legal rights to make decisions for their child when he or she turned 18. … [Read more...] about Parents of A Disabled Child, Beware
The month of April is Autism Awareness Month, and we would like to do our part to raise awareness here on the blog. … [Read more...] about Autism Care & Treatment Efforts Highlighted in April