The key tool in planning for children with special needs
Special Needs Trust
A Special Needs Trust is a special trust that holds title to property for the benefit of a child or adult who has a disability. The Special Needs Trust can be used to provide for the needs of a person with a disability and supplement benefits received from various governmental assistance programs, including SSI and Medicaid. A trust can hold cash, real property, personal property and can be the beneficiary of life insurance policies.Special Needs Trusts are just one tool we use to help, but they are an important tool. A Special Needs Trust can be used to protect funds that will enhance the quality of life for a disabled child or family member while preserving eligibility for benefits. Assets inside a special needs trust, when it is done right, are exempt when establishing eligibility. Further, as special needs attorneys, we can help you understand the rules relating to trust administration so disbursements from the trust don’t cause a loss of eligibility
The ABLE Act
The ABLE Act can be a powerful tool to help you achieve your financial goals for you or your loved one. Our colleague Steve Dale is a nationally recognized special needs planning attorney. He is offering a free webinar on the ABLE Act which was passed by Congress in early 2015. To register for his webinar, click on the following link.
Our business partner Vincent Russo and his wife Susan gave birth to a special needs child 25 years ago. The doctors told them she would never go home from the hospital. She did. And she lived a great life for five years with her loving family. When they lost her, Vincent and Susan decided to do something amazing: They formed the Theresa Foundation for children with special needs.
That foundation now funds the Theresa Academy of Performing Arts for Children of Special Needs. The Theresa Academy is an amazing resource to special needs children on Long Island, New York.
We mention this here on our website partly because we are proud of our partner Vince Russo and his wife Susan, but mostly because we want our own client families to see the power of what can happen when families decide to turn the pain of their loss into an asset in their community. Stan and his wife Patrice attended the annual fundraising event on April 30, 2015. It was an amazing event. It was the 21st annual fundraiser for the Theresa Foundation. Through their leadership, Vincent and Susan have made it possible for hundreds of special needs children to experience community and personal growth that would not have been possible without their help. Vincent and Susan are models for what is possible.
Don’t Leave the Future of Your Special Needs Child to Chance
Special Needs Planning is critically important in preparing for the future of your disabled child or loved one. Promoting a high quality of life, dignity, personal choice and financial security shouldn’t be left to chance. It will happen because we help you make it happen. Early intervention is key in planning for disability benefits, Medicaid, Medicare, Supplemental Security Income and more. Public benefits can stretch family dollars as you build a safety net for your child or loved one. We can help you navigate these complex systems. Special need attorneys can help you with other issues as they arise. We can help you understand the right way (and the wrong way) to settle a personal injury suit if you’re disabled as a result of an injury. We can help you with decision-making tools like powers of attorney, advance directives for health care, guardianship and conservatorship.
ILP + The Book
It is possible to protect yourself, your family and your business or professional practice from the real threats that keep you up at night. The law provides more and better solutions than ever before in history. In this book, Stan explains in clear, understandable language how these powerful solutions can be deployed to protect what you have earned and built.
Available Early Summer 2015
ILP + The Webinar
In this hour-long webinar, Stan explains how to avoid probate and protect your heirs with a revocable living trust. You will learn how to protect your loved ones what many consider to be an expensive, lengthy, and unnecessary court process. You will also learn what a living trust is and why having a living trust will protect your children, grandchildren and other heirs.