Special Needs Planning

Have A Dependent With Special Needs? Osenton Law Can Help You Ensure That They Will Be Taken Care Of & Provided For Financially No Matter What The Future Holds.

We Guide You & Give You Personalized Attention Every Step Of The Way! You Can Trust Us To Secure A Stable Future For Your Loved One With Special Needs.

Many people think that they can just leave everything they own/bequeath a sizable inheritance to the individual with special needs, but that’s problematic for a few reasons. For one thing, government programs such as Social Security and Medicaid can provide significant amounts of financial aid to children and adults with special needs. These programs are mostly need-based, however. If your loved one has too much money in their name, they may be rendered ineligible to receive benefits. For another thing, your loved one is vulnerable and may not be able to manage the money you leave them on their own; without protecting their inheritance, it could become the source of a family dispute, be attacked by creditors, and ultimately not be used in the manner you intended. Also, if a will is the only thing you leave behind, the inheritance will have to go through an expensive court process known as probate before they can receive it anyway.

The best way to plan for the safe future of your loved one with special needs is by protecting their inheritance in a trust. A trust is a fiduciary relationship where you can designate someone to act on your loved one’s behalf and manage the financial assets in the trust according to certain terms. The money is not owned in their name, so they can still use it without jeopardizing eligibility for other necessary benefits. There are several types of trusts available to choose from, including a special needs trust, a supplemental trust, a survivors’ trust, and a legacy trust. Understanding what type of trust is right for your unique circumstances and creating that trust can be complicated, which is where a lawyer’s guidance comes in! At Osenton Law, P.A., we design a special needs trust and other planning tools that you and your family members can rely on. Our firm offers affordable fee arrangements that we tell you about upfront so you don’t have to worry about any surprises. Call today to schedule a Effective Strategy Meeting with our law firm and find out more about how we can help you.