Special Needs Trusts: Planning Ahead for Your Disabled Child
Families who have a loved one with special needs have a unique set of challenges.
Parents of a special needs child or adult usually have services in place to create a structured and safe environment for them to live a productive life.
A trust is also the best way to be sure that your special needs family member will be cared for long after you're gone.
Families should consider creating a special needs trust. These trusts allow the trustee to regulate how often a loved one receives money from the trust. This process will allow the beneficiary to receive the money they need while ensuring that they qualify for available government assistance.
Special needs trusts can cover the expenses that government assistance will not, including therapy, insurance, travel, basic spending money, rehabilitation and more. The government assistance usually covers housing, utilities and groceries.
Should your loved one come in to any inheritance, those assets can be added to the trust at any time.
Take the necessary steps now to take care of your loved one in the future. Learn more about Special Needs Trusts here.
Kevin Miller is ready to assist you in creating a trust or other special needs planning for a loved one. It is important that you make special needs planning a priority if you have a loved one that needs assistance to complete daily tasks. Kevin Miller has extensive experience in special needs planning and will put your interests first. Contact us or call us at 405-443-5100 if you have questions. We are here to help.