When you require special needs planning, Fouts Law Group, LLC is here to offer you assistance. We can help caregivers and guardians who have loved ones with serious disabilities and special needs. We will assist you in making sure that the person you are caring for has continued care should something happen to you. We can also assist any person who wishes to leave a financial gift to a person with special needs.
In some instances, a person with a disability or special needs received financial support from the government. Leaving valuable assets or a financial gift to someone who receives these benefits can have unintended consequences. You don’t want your good intentions to cause problems for anyone. At Fouts Law Group, LLC, we can help to ensure that your gift doesn’t cause undue hardship for a person with special needs or disability. Call a Roswell special needs planning attorney today at (678) 242-8344 for more information. We can answer any questions you have, including:
- Why is special needs planning important?
- What is the process of special needs planning?
- How can a Roswell special needs planning attorney assist me?
Why Is Special Needs Planning Important?
Special needs planning is important for several reasons. The unique role you play in a person’s life will be the most important factor in determining your planning needs. People who wish to gift money or assets to a person with special needs may not believe they need legal assistance. The truth is that they do.
When a person receives benefits from Social Security or Medicaid, those benefits often come with income thresholds and restrictions. If you decide to gift this person money, you could put them over that threshold and ultimately disqualify them from receiving benefits. If you aren’t careful in the way that you give your financial gift, you could harm the person you are trying to help.
A special needs planning attorney can help you make sure that your financial gift doesn’t have unintended consequences. An attorney can also ensure that your gift is both managed and used appropriately.
Special needs planning is important for both the person providing the gift and the caregivers or guardians of the recipient. If you are providing care for someone with special needs or a disability, you want to know that someone else is ready to step in should you be made unable to continue that care. The person that you are caring for will need a safe place to live if you can no longer provide one.
What Is The Process of Special Needs Planning?
Special needs planning is used to ensure that a financial gift you decide to provide is used appropriately. It also makes sure that your gift doesn’t have consequences for the recipient that you didn’t intend. You can ensure this by letting a special needs planning attorney assist you in creating a sound plan.
There are legal requirements in place for a special needs trust. Some assets can be gifted to a person without benefits being affected. Within the trust, you can name a person to manage the assets, and those assets can be used by the recipient on a supplemental basis.
Your special needs plan may include other details based on your situation. You and your attorney will discuss that situation, your intentions and the future needs of the person receiving care. With this information in hand, your attorney will help you construct a plan and take care of the technical details in making that plan legally binding.
How Can A Roswell Special Needs Planning Attorney Assist Me?
Fouts Law Group, LLC can help anyone in Roswell with creating a special needs plan. Whether your situation is simple or complex, we are here to assist you. We understand that you want to provide financial security for your intended recipient without causing hardship. Let us assist you. Call our office at (678) 242-8344 to speak with a Roswell special needs planning attorney. You may also contact us online at your convenience.