Creating a Special Needs Trust in Baton Rouge
An Experienced Attorney Can Help You: (225) 228-4445
If you or a family member has special needs, you are probably well acquainted with the Federal Medicaid system that provides public assistance to physically or mentally disabled individuals. A problem that commonly arises during estate planning is that when someone with special needs inherits a large amount of money, they are often made ineligible for further benefits.
My name is Wendra Moran, and I can help you navigate all these and many other legal complexities to ensure that your loved one with special needs is cared for. You deserve peace of mind.
Why Call My Special Needs Planning Law Firm in Baton Rouge?
- Over a Decade of Proven Legal Service
- Dedicated Counsel for Estate Planning & Probate
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- Personal Attention & Insightful Legal Guidance
Preserving Medicaid Benefits After Inheritance
Medicaid is intended for recipients with low income, and to qualify, the individual must be below a certain economic threshold. Your special needs family member may lose the opportunity to receive financial support for basic living expenses if you leave them a legacy in your will, but a special needs trust may make it possible to avoid this outcome.
A common solution for this problem in the past was simply to disinherit the special needs child, thereby preserving their eligibility for benefits. But by creating a special needs trust, you can pass your wealth to your loved one without barring them from being eligible for benefits. The trust has to be designed in a way that supports the money paid in government aid, instead of replacing it. Rather than providing funds for food and shelter, the trust should make it possible for the beneficiary to enjoy a higher standard of living, covering expenses for things such as recreation, entertainment and other discretionary items.
What are the Benefits of a Special Needs Trust?
There many advantages to this type of trust, including the fact that while an inheritance goes on the public record, trust payments remain private. Your child is less likely to become the victim of predators who target vulnerable heirs. Not only that, but as mentioned before, a special needs trust will ensure that your loved one is not disqualified from any further government aid because of the money which you have left in trust for them.
For a dedicated estate planning attorney, call me today at (225) 228-4445 to secure your future.
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