There are pointed approaches that can be taken to address every type of inheritance planning challenge. With this in mind, when you are planning your estate, you should consider the life situation of every person on your inheritance list. A perfectly acceptable way to transfer assets to one person may not be appropriate for the next, and this definitely applies to an inheritance that you want to leave to a person with a disability. Need-Based Government Benefits Most Americans get insurance … [Read more...] about What Is a Supplemental Needs Trust?
supplemental needs trusts
It is important to choose the right estate planning device for each person on your inheritance list. There are many different tools in the estate planning toolkit, and so you should discuss your options with a licensed estate planning attorney if you are not sure how to proceed. With this in mind, let’s look at inheritance planning for people with disabilities. Need-Based Government Benefits Obviously, people with disabilities need health insurance, but many people that are in this position … [Read more...] about Can I Fund My Own Special Needs Trust?
The best way to plan your estate will depend on the exact circumstances. You may see websites that advertise do-it-yourself estate planning. DIY estate planning doesn't make sense to many who are informed, because a layperson is not going to be aware of every relevant factor. This comes into play when you have someone with special-needs on your inheritance list. Government Benefits A high percentage of people with disabilities are enrolled in government benefit programs, such as Medicaid and … [Read more...] about What Is a Supplemental Needs Trust?