Special / Supplemental Needs
If you have a child or other family member with a physical or mental disability, whether a minor or adult, you may want to consider a Special or Supplemental Needs Trust (“SNT”). We can meet with you to help you decide if this is necessary for your estate plan. There are different types of SNTs and you want to make sure you have the one that is right for your needs. Without a proper SNT, your child may not qualify for necessary government programs. An SNT can also help secure an individual’s long-term financial future when he or she is not able to adequately manage his or her finances.
- Letter of Intent/Guidance:
You should consider including this document with the SNT to provide guidance to future caregivers, providing personal information on likes, dislikes, needs, enjoyable activities, etc.
- Powers of Attorney/Guardianship/Conservatorship:
You should consider whether or not a Power of Attorney or Conservatorship would be appropriate as your child reaches adulthood. Without a Power of Attorney or Health Care Directives, you may no longer be entitled to receive medical information or help with the finances of your adult child.
- Advanced Directives:
If your child is an adult, he/she might want to designate a healthcare agent or appoint a conservator, if it should become necessary.
We can discuss various ways to fund the SNT such as with an insurance policy or through a Will.
For more information, contact us.