Pascagoula Estate Planning Law Firm Helps You with Special Needs Planning for Disabled Loved Ones
Guiding you through the process of ensuring your loved ones are properly cared for after you are gone
If you are the parent or guardian of a child with special needs, you might be thinking about creating a care and support plan for after you are gone or in case something unexpected happens to you. First, let us make it clear that we understand how overwhelming this process can be for parents and guardians. At the law firm of Cumbest, Cumbest, Hunter & McCormick, we’ve worked with families who have had to make the same challenging decisions you are struggling with right now. We can present several options based on your circumstances and goals and guide you toward the best ones for your family.
How to establish a special needs trust without jeopardizing your disabled loved one’s eligibility to receive benefits
When it comes to creating a plan that provides for your loved one, one of the biggest dilemmas is how to make sure there is enough support to make the person’s life comfortable without endangering your loved one’s ability to qualify for government benefits. Many families have faced the same concern, and there is a solution called a special needs trust.
You can leave money and property to your loved one in the name of the trust. You appoint a trustee who is responsible for managing the trust and disbursing the funds. These funds can be used for life expenses, such as a home, car, furniture, education, recreation, and medical and dental care. Because your loved one does not have access to or control over the funds, this does not hurt the person’s eligibility to receive Social Security or Medicaid.
Even if your loved one does not receive government benefits, a special needs trust is an effective way to make sure the person receives necessary financial support without having direct access to the money. You can rest assured that there will be a responsible trustee overseeing the account and making sure that your loved one has what is needed.
A special needs power of attorney provides guidance and support for adults with special needs
If you help your loved one make important financial decisions or make them on the person’s behalf, you need someone you can trust to step into that role when you are no longer around. Giving a trusted individual power of attorney for your loved one with special needs ensures that there is someone who can open accounts, manage finances, pay bills, file taxes and disburse spending money for that person.
There are so many things to think about and consider when it comes to special needs planning. Our attorneys take the time to listen to you and develop a plan that fits your circumstances and helps you accomplish your goals for your loved one. We can help you draft a will and create an advance healthcare directive for your special needs child. You can relax in the knowledge that you have made arrangements for the financial and medical needs of your loved one while you get on with the business of living and enjoying your time with your child now.
At the law firm of Cumbest, Cumbest, Hunter & McCormick, we are sensitive to your needs and work hard to make sure that your wishes are carried out.
Contact a Mississippi estate planning attorney who can help you plan a safe future for your disabled loved one
If you are responsible for the care and support of a disabled loved one, and you want to make arrangements for the person’s support after you are gone, the attorneys at Cumbest, Cumbest, Hunter & McCormick can help you. Contact us online or call us at 866-461-1591 to discuss your options today.