As you age, it’s completely understandable if you are beginning to worry about what will happen to your disabled adult child when you can no longer care for them. Today, they rely on you but you know there will come a time when you cannot provide the kind of support and assistance, both physically and financially, that you do now.
An experienced life care planning lawyer can help you provide for your adult child with a special needs trust. By setting up a special needs trust, you can make sure that your child’s SSI or Medicaid isn’t reduced because of inheritance. In fact, if constructed properly, the trust can supplement the government benefits, not jeopardize them.
If you put money into a special needs trust, your disabled adult child can use the funds to pay for many things they may need to ensure quality of life. They can pay for:
- Transportation (including specially equipped vehicles)
- Medical and Dental Expenses
- Big Ticket Items such as Computers or Vacations
It’s important to note that owning property, a car or personal items will not impact your child’s eligibility for SSI or Medicaid. However, a special needs trust will make certain that your child gets his or her entire inheritance and the government benefits he or she is entitled to receive.
Contact a caring, knowledgeable elder care lawyer at Bratton Scott today for advice about special needs trusts and other estate planning documents. We are here to help.