With a Los Angeles Special Needs Trust, parents of special needs children can rest secure knowing that the future financial needs of the child are provided for should the parents die. A trust should also be used by anyone wanting to leave money in their wills to a special needs individual. Without the proper use of a trust, these individuals could lose all of their government benefits for disability and actually be worse off financially than they were before.
Benefits of Los Angeles Special Needs Trusts
A trust is a fund that holds a certain amount of money. A trustee, who will not be the person for whom the money is intended, will be set up over the trust and will be in charge of dispersing the money as needed. The beneficiary will be the special needs individual living in Los Angeles who is physically or mentally disabled. The trustee could be a close family member or friend, or it could be someone appointed by the California courts.
Even if the child is not receiving governmental benefits for disability, a special needs trust can still be helpful for ensuring that the child is cared for after the parents or guardians pass away. This is something that should be set up only with the help of a qualified Los Angeles special needs attorney. At Newman Aaronson Vanaman Attorneys at Law, we are well-versed in all types of special needs trusts and will be able to answer your questions as well as help you prepare paperwork, determine how much money should be in the trust and designate a trustee.