Providing For A Loved One With Special Needs
Parents and grandparents of family members with special needs may want to leave inheritance to help their loved one flourish. However, this inheritance could eventually become a financial burden without taking the right steps. A supplemental or special needs trust solves this problem.
At Storey Law Office, you may discuss your loved one’s needs with a skilled attorney who has more than three decades of experience with trust creation in Minnesota. I understand the important dynamics between family relationships and finances. I can personally sit down with you to arrange the fine details of your special needs trust and other aspects of your estate plan.
Who Should Consider A Special Needs Trust?
As opposed to other types of trusts, a special needs trust can help those who have diagnosed physical or mental disabilities. I can work alongside parents, grandparents or another qualifying party to protect the interests of a person with special needs over time.
Regardless of their income level or wealth, families may depend on this kind of trust to get the most value from their money. In many cases, those with special needs rely on financial assistance from the government. With my estate planning knowledge, I know how to create trusts that do not jeopardize this vital support.
What Are The Benefits Of A Special Needs Trust?
As your lawyer, I am ready to help you understand the ways in which you may use a special needs trust to the advantage of your child or another loved one, including:
- Shielding the beneficiary from financial abuse or creditors
- Providing for the beneficiary without sacrificing their eligibility for public benefits
- Allowing your beneficiary to use inheritance to enhance their quality of life beyond the necessities that governmental aid affords
- Ensuring that each use of funds is thoughtful, as the trustee is legally responsible for fulfilling their fiduciary duty
Ultimately, a supplemental or special needs trust can give your disabled family member a layer of financial protection. At Storey Law Office, you can expect an in-depth plan to address your family’s situation.
Learn More About Preserving Your Loved Ones’ Futures
You deserve to understand all your options and their possible outcomes. Based in Coon Rapids, Storey Law Office uses down-to-earth language and gives each client personal attention to help them make informed decisions. Call me at 763-575-7066 or contact me online for an estate planning consultation.