Houston Special Needs Planning Lawyer
We help families with special needs children to create a plan that provides for them financially while also protecting their government benefits.
How can I ensure my loved one with special needs is financially protected?
Special needs planning often involves setting up financial arrangements, such as special needs trusts or ABLE accounts, to ensure that the individual with disabilities can maintain their quality of life without jeopardizing eligibility for government benefits like Medicaid and Supplemental Security Income (SSI). It also includes planning for healthcare, housing, and other essential services.
Estate planning for a family with special needs children comes with a complex set of financial, social, and medical issues that some lawyers are ill-equipped to handle. But the experienced Texas special needs planning attorneys at Akinlabi Law are dedicated to ensuring your child with special needs will be well cared for throughout their lives, especially after the parents are no longer able to provide support.
We offer a variety of estate planning tools and strategies designed to accommodate the unique circumstances presented by children with special needs and their families in Texas. We can help you pass on the financial assets needed for your child to live a rich quality of life without jeopardizing their eligibility for government benefits. We’ll also assist you in finding and appointing a trusted guardian and/or trustee to look after them in the event of your death or incapacity. And we’ll help with locating the best residential opportunities—as well as the means to pay for them.
SPECIAL NEEDS TRUSTS
a significant challenge in estate planning for individuals with special needs is ensuring they have sufficient financial resources to cover the extensive care and support they require throughout their lives. However, if parents leave a substantial sum of money directly to a child with special needs, it could disqualify the child from receiving government benefits.
Fortunately, Texas law permits the use of “special needs trusts” to hold assets for the benefit of a physically, mentally, or developmentally disabled child. These trusts provide supplemental financial resources without affecting the child’s eligibility for public healthcare and income assistance benefits. However, the regulations governing these trusts are complex.
For example, funds from a special needs trust cannot be given directly to the disabled beneficiary. Instead, they must be distributed to a third party responsible for providing the necessary goods and services to ensure the beneficiary maintains a comfortable lifestyle. Additionally, the needs of a child with special needs can change significantly over time, as can the laws related to public benefits.
Therefore, it is crucial to collaborate with an experienced special needs attorney in Texas. We are here to help you create a comprehensive special needs trust that is properly structured and tailored to your child’s unique circumstances. Contact Us today at (281) 944-8760 or click this link to schedule a consultation.
Contact Your Texas Special Needs Attorney Today
Special Needs Planning Freedom Guide
Discover the steps you need to take to plan for the future care of your special needs child.
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