If you have dependents or children, your estate planning strategy has to be more thorough. If you have a special needs child or an adult with a disability in your care, you need to make special provisions to accommodate their needs. In this regard, our Bay Area Special Needs Trust attorney can help.
A Special Needs Trust is a Trust that is specifically set up for the benefit of a child or adult with a disability. With this Trust, you can set aside specific properties for the care and medical needs of your loved one with a disability without forfeiting their eligibility for government benefits.
Managing a Special Needs Trust requires an experienced attorney who is familiar with the requirements and regulations. At Anthoor Law Group, our team can help guide you in the right direction. Schedule a consultation today.
As you know, estate planning has various aspects. If you want to prepare for all possibilities, our competent attorneys at Anthoor Law Group can help with the following:
There are several ways to plan the distribution of your estate. Typically, this can be done through a Will or Trust. Both these documents are useful in estate planning, and they each have advantages and disadvantages. The right choice would depend on your family’s needs.
If you have an individual with a disability in your care, creating a trust would be the best option, and not just any trust, but a Special Needs Trust. This kind of Trust will ensure that you specifically leave assets and properties for the needs and medical care of your child with a disability or dependent adult without disqualifying them from government benefits such as SSI or Medi-Cal.
Aside from real properties, you can transfer cash and even life insurance proceeds to a Special Needs Trust. Setting up this Trust will give you peace of mind, knowing your loved one can live comfortably even after you pass. Call our Bay Area Special Needs Trust attorney today to learn more about the process.
Estate planning can be done in different ways. While establishing a Special Needs Trust is a solid way to secure the future needs of a loved one with a disability, you might want to explore other tools that can help secure the needs of your other dependents.
At Anthoor Law Group, we can assist if you need help with creating a Will, establishing a Revocable Trust, and preparing Financial Powers of Attorney and Health Care Directives. Reach out to our Bay Area Special Needs Trust attorney and schedule a consultation to review your options.
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In the Bay Area, you need a legal team that you can trust to represent your interests and protect your rights. The attorneys at Anthoor Law Group give you the following benefits:
In order to qualify for SSI and Medi-Cal benefits, a person must meet certain criteria. Mainly, a beneficiary should not be able to work due to their disability and income, if any, should not exceed $1,767 each month as of 2022. Hence, if you leave $25,000 to a loved one with a disability, he or she might not qualify for the benefits anymore. Their medical expenses would then be paid out of pocket.
To ensure this will not be a problem for your family, setting up a Special Needs trust is the solution. Consult with our Bay Area Special Needs Trust attorney to get started with the process.
Yes, you might still need to execute a Will. This is because a Special Needs Trust is established only for the purpose of transferring assets without affecting disability benefits. So, if you have other children, you can divide their shares through a Will or a Revocable Trust.
Aside from that, it is important to appoint a trusted guardian who will take care of the affairs of your dependent with a disability once you are gone. Appointing a guardian can be done through a Will. Schedule a consultation with the team at Anthoor Law Group today for legal counsel and assistance.
Anthoor Law Group, A Professional Corporation greatly appreciates your visiting our website. We hope the warmth, compassion, and competency of our firm has been conveyed to you. We look forward to meeting you and providing you with clarification on any family law or estate planning issues you are experiencing. Please reach out to us by phone at (510) 794-2887 or online form, and someone will be with you very soon!
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