We can help you set up a Stable Account or special needs trust which will protect their benefits while providing a more comfortable lifestyle. A special needs trust will give your loved one the quality of life you want them to have without giving up the benefits they desperately need.
A special needs provision in a Last Will and Testament includes very specific language that will make sure your loved one is able to have what you would like them to have without compromising their government benefits. This is important for those who already have a disability and or if one was to become disabled later. It’s imperative that this language is updated when necessary or your loved one could lose out on all they deserve.
We will help ensure that your loved one is protected by carefully crafting the proper documents and taking the appropriate measures. You can rest assured that your loved one will be taken care of when you are no longer able to do so.
Unlock the Benefits of a Stable Account for Your Loved One’s Future
Unlocking the benefits of a Stable Account is an essential part of special needs planning for families with children or loved ones who have developmental disabilities. A Stable Account, also known as an ABLE Account, allows parents and family members to provide financial support for their loved ones without jeopardizing their public benefits like Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI). These accounts are a game-changer for families committed to ensuring a safe and happy life for their loved ones.
As a part of the overall estate plan, ABLE Accounts offer a structured way to manage disability-related expenses while preserving eligibility for public benefits. When a child reaches adulthood, parents often worry about maintaining financial security for their children. This is where ABLE Accounts and special needs trusts come into play. These tools work hand in hand with other financial planning strategies, including a third-party trust, to cover needs like housing, education, and other resources that contribute to a better life experience for individuals with special needs.
Since Congress passed the law allowing ABLE Accounts, families have gained a powerful resource to address the challenges of special needs planning. By utilizing these accounts, parents and caregivers can ensure their children have access to services and resources to live a full and happy life. It’s important to start planning early in the process to give your loved ones the best future possible.
At Elder Law Practice, we are committed to helping our clients navigate this process, offering legal advice and support to ensure your loved one has the tools they need for a safe, happy, and financially secure future. Planning for the future starts with taking the first step today.
