Your Child Could Benefit From A Special Needs Trust

When it comes to estate planning, you need a lawyer who will spend time with you to identify your specific needs and goals. Using a template approach or doing it yourself ignores the complexities of certain aspects of estate planning, specifically those that involve special needs children and associated trusts.

While template estate plans or do-it-yourself software may keep more money in your pocket — and your estate for that matter — it can also result in additional legal problems your family members will have to deal with after you pass away. Let the law firm of Michelle A. Barry, P.A., help you draft the documents you need in a way that meets your budget, your needs and helps you avoid unnecessary probate proceedings later on.

Personalized Development Of A Special Needs Trust For Your Loved One

While it might seem like a good idea to name your special needs child as a beneficiary in your will, a large inheritance could actually end up being detrimental to their financial well-being. That's because inheritance money is counted as income when calculating federal disability benefits.

If inheritance money is not carefully controlled, such as through a trust, you could accidentally cause your child to become ineligible for benefits.

A special needs trust is for the benefit of a loved one who is under 18 and qualifies as a disabled child under federal law or relevant state statute. It is a unique aspect of estate planning: It addresses a disabled individual's supplemental needs defined as expenses not covered by the state medical assistance programs or other public benefits.

Attorney Michelle A. Barry is an experienced estate planning lawyer who will attend to every detail of your special needs trust. The founder of our firm provides personalized attention for residents of Longwood and those throughout Florida. She possesses knowledge of the causes and effects of disabilities while you provide insight into the individual in need of these benefits, from personal habits to adaptive equipment needs.

Time is of the essence in creating an estate plan. Every day you wait is another day where your family is put at risk of financial instability, particularly your disabled loved ones.

Take Action For Your Child's Sake

Contact us online or call our office in Longwood, Florida, at 407-622-4529 (toll free 888-351-8303) for more information about estate planning and special needs trusts. We are available during regular business hours and by appointment. We accept all major credit cards.