Special Needs Planning
Understanding Special Needs Planning in Virginia
Loved ones with disabilities often rely on needs-based government benefits such as Supplemental Security Income (SSI) and Medicaid. This creates a challenge for families that would like to provide a secure and enriched future for their loved ones without jeopardizing their eligibility for the public benefits they need. Like Michael and Lelia, special needs planning attorneys can help your family develop strategies to enrich the lives of your loved one with special needs while preserving their benefits in Virginia.
Establishing a Special Needs Trust
Special needs trusts are a type of legal document explicitly made to benefit those with physical and/or mental disabilities. These differ from the typical trust due to the unique conditions that often need to be in place to accommodate the beneficiary’s specific needs and lifestyle of a special needs trust. Another one of the main reasons for having this type of trust is to ensure the beneficiary does not render him/herself ineligible for government benefits due to an increase in assets.
Establishing special needs trusts are an excellent vehicle to ensure your loved one with special needs is taken care of in the event of your passing. However, they can be challenging to set up. It is advised that you consult a Virginia elder law attorney who will be able to examine your specific situation and make sure your loved one is taken care of for years to come. Michael and Lelia have a deep understanding of special needs planning; as parents of a child with special needs, they can help you determine what documents best fit your needs.
Understanding Virginia Special Needs Require Special Planning
Suppose you have a child or loved one with special needs. In that case, we can advise you on how to provide for their care and leave assets to them in a way that protects them from financial exploitation and maintains their eligibility for Medicaid and other government assistance programs in Virginia. Michael and Lelia are the parents of a child with special needs; they have first-hand experience with these issues and can provide effective and compassionate counseling and advice.
If you have questions about special needs planning for a loved one, please call or email us to schedule a free initial consultation. Commonwealth Life and Legacy Counsel have offices in Zion Crossroads, Lake Anna, Troy, and Mineral to best serve our central Virginia community.