Special Needs Trusts Archives - Texas Social Security and Estate Law Firm

The Legal Options Available to People With Special Needs

January 19, 2023

Support and empowerment are provided to people with special needs and disabilities through the Americans with Disabilities Act (ADA). More options for individuals and families who support them to live as independently as possible are available. Multiple options are available to create and amend legal frameworks to best serve persons with special needs. Requirements continue to change, and laws and resources will differ between states.

Special Needs Trustee Selection

December 15, 2022

Trusts set up for loved ones with disabilities are typically supervised by the grantor (the individual who creates and funds the trust). However, it is crucial to choose a successor trustee who will continue properly managing the SNT to benefit the special needs individual. When selecting a reliable, honest, and capable successor trustee, there is much to consider since trusts often operate on the honor system unless there are egregious circumstances that the courts must address.

What You Should Know About Special Needs Trusts

November 17, 2022

Generally, a trust is created when a person or business manages property or assets on behalf of another party. The person or entity who manages the trust is known as the “trustee” and is entrusted with the responsibility of making decisions in the best interest of the person who benefits from the trust, known as the beneficiary. Trusts are advantageous because they provide the ability to place conditions on how and when your assets will be distributed when you die, reduce estate and gift taxes, and allow you to skip the lengthy and expensive probate process.

You Shouldn’t Disinherit Your Special Needs Child for the Purpose of Benefit Protection

October 20, 2022

In protecting the futures of their children with special needs, families face unique challenges and opportunities. Providing appropriate medical, educational, recreational, and employment opportunities for your special needs child can result in a lifetime of pursuing public and private programs and services. Too often, the parents or persons responsible for financial and medical management of the special needs child receive misguided advice to disinherit them.

The Estate Planning Process for Individuals with Special Needs

September 15, 2022

How are special needs defined? The term special needs refer to those with learning difficulties, behavioral or emotional problems, or physical disabilities requiring specialized education. For example, individuals with autism, ADHD, Asperger syndrome, Down syndrome, dyscalculia, dyslexia, deafness, blindness, and cystic fibrosis fall into the special needs category, as do cleft lips, missing limbs, and more. The US government combines this group into the overall classification of disability, and current US Census data estimates the US disabled population to be 12.7 percent or 41.1 million individuals.

Planning for Special Needs: Ten Tips to Consider

August 18, 2022

Careful planning for the future of a loved one with special needs is one of the most critical life-protecting tasks you will ever provide for them. This article offers tips you can employ in your planning process can create a meaningful and comprehensive approach, addressing many of the challenges of special needs family members without negatively influencing eligibility for government programs or other loved ones you are providing for in your estate plan.

Planning for a Disabled Family Member: Common Mistakes

July 21, 2022

Americans with special needs who are five years of age or older comprise the largest minority group in this country. The majority of federal and state benefits available to help persons with disabilities are needs-based, meaning income and assets are strictly limited and can often be misinterpreted, resulting in costly mistakes.

Buying Life Insurance Policies for Children With Special Needs

June 9, 2022

If your family includes a special needs child, you can use life insurance in two main ways. In one situation, parents may consider purchasing life insurance for their child’s life, addressing the possibility of outliving them. Alternatively, parents may use a life insurance policy in a trust as part of their estate planning; knowing their child with special needs is an enormous priority to safeguard after they have died.