Parents and guardians of disabled children whether young or adults have a difficult task when they consider how to support the child in the case of the parents’ or guardians’ deaths. While this may not be a fun topic to discuss, it is one with great consequence to the financial well-being of the child well into the future. It may be tempting for parents and guardians to set up their own wills without the help of an attorney. However, if this is done, they may find that they actually hurt the chances of the child to receive additional government benefits in the future.
Helping Parents with Santa Clarita Special Needs Trusts
A Santa Clarita Special Needs Trust can get around this problem while still allowing parents and guardians to provide for disabled children well past their own deaths. With a special needs trust, money will be set aside for the child in a special account managed by a trustee. Although this money cannot be directly given to the child as cash, it can be used for many items and services for the benefit of the child. For example, the trustee can use the money to pay medical bills, to hire a personal care attendant, to send the adult child on a vacation or to purchase food and clothing for the child. Of course, parents will need to consider carefully before naming the trustee of a Santa Clarita Special Needs Trust because this person will be given much responsibility.
Parents and guardians will want to meet with a special needs attorney before setting up and finalizing the Santa Clarita special needs trust. While some insist that this account can be set up without any professional help, there are many things that could go wrong, thus keeping the money from the child in the future. Working with one of our special needs attorneys through Newman Aaronson Vanaman will help individuals rest secure in the knowledge that they have set up the trust correctly and that the money will be easily accessed for the good of their children in the future. Plus, our attorneys can help trustees understand their responsibilities.