Boulder County Estate Planning Attorney
If you have a child with special needs, you know how important it is to plan for uncertainties. Not knowing what the future holds is what makes a special needs trust so necessary. Having a special needs trust in place for your disabled child can put your mind at ease, knowing that their future will be taken care of.
It is important to work with a qualified legal professional who understands the complexities of a special needs trust. A Boulder trusts attorney at Flatiron Legal Advisors, LLC, can provide you with years of hands-on experience. By scheduling a free case evaluation, we can get started on your special needs trust today!
What are the benefits of a special needs trust?
By working with an attorney who is well-versed in special needs trust planning, you can know that your disabled child's future will be taken care of. A special needs trust also functions as a way to provide for anything that is not covered by the SSI payments or Medicaid.
A special needs trust is useful for:
- Covering the cost of a personal attendant
- Purchasing a home
- Compensating for anything Medicaid or SSI payments do not cover
- Retaining group home eligibility
Is a special needs trust necessary?
If your disabled child currently receives Supplemental Security Income (SSI) payments and Medicaid health insurance coverage, there are requirements which must be followed for your child to maintain these benefits. By law, the benefits will apply to your child only if they possess a limited income and have $2,000 or less in assets. This poses a challenge because if your child receives any amount of inheritance from you as a parent, they will likely not qualify for any benefits. However, with a carefully crafted special needs trust, you can ensure that your child will receive both their Medicaid benefits, as well as assets from you.
We understand how important family is, which is why we can provide personalized guidance when creating your special needs trust. A Boulder trusts attorney from our firm will handle your case with competence and discretion, no matter what.
Prepare for your child's future today by contacting Flatiron Legal Advisors, LLC.