Special Needs Trust
Orange County Lawyers for Parents of Special Needs Children
Parents of special needs children are constantly struggling with the crucial questions: Who will take care of my child if I pass away tomorrow? How will my child survive without me? Will my child be financially stable once I die? Will my child continue to receive government benefits if he or she inherits funds from a family relative?
Benefits of Establishing a Special Needs Trust
One way to alleviate many of these and other concerns is to execute a Special Needs Trust. With this Trust, parents can appoint an individual(s) as Trustee to manage their child’s finances. This will allow the children to maintain their specific needs and continue with their lifestyle. For that matter, the children’s future will be secured, offering the parents peace of mind, comfort, and hope.
Furthermore, a Special Needs Trust will preserve the children’s public benefits in the event they inherit monies from another source, such as a family relative or friend. Public benefits include:
- Social Security Income (“SSI”)
- Medi-Cal
- In-Home Supportive Services (“IHSS”)
A Special Needs Trust will also prevent creditors from reaching into funds belonging to the children, which serves to further protect them.