Families who have a family member with a disability must plan for the future very carefully. How assets are left after your death can have a tremendous impact on the quality of life for that person. In the past, a Will may have been enough, but times have changed. To protect a person with special needs, a well-defined estate plan is vital.
How A Special Needs Trust Works
A Special Needs Trust allows a parent, grandparent or guardian to provide funds for a disabled child without disrupting the child’s eligibility for government aid. Setting one up is a fairly simple process. Important points to remember while investigating the use of this estate planning tool are:
- Decide on an appropriate guardian for your child
- Determine who would be a suitable Trustee(s) to manage the Trust’s assets and supervise your child’s finances
- Outline instructions for your child’s education, housing, personal and emotional needs
Our law firm helps families address the financial, legal and social aspects of a person’s life to develop an effective plan for the future. Our goal is to ensure that their needs are met and that they have the opportunity to expand their horizons and follow their dreams.
With the help of the Law Office of Laura Cowan you can ensure that your loved ones are protected and your assets are kept safe even if something happens to you. We create comprehensive estate plans for clients in New York City and we are ready to work with you today to create a plan to ensure your loved ones are taken care of in the event you become incapacitated to pass away. To learn more about the assistance we offer give us a call today at 212-760-2956 or contact us online.