Special Needs Planning

Utica, NY Estate Planning and Elder Law

 

The Facts

In the past, families would disinherit disabled family members and leave assets to someone else who agreed to “take care” of them. If assets are left to a disabled beneficiary, it could disqualify them from the state or federal programs they are receiving. In 1993, Congress enacted new laws that entitled disabled individuals to derive the same estate planning benefits as non-disabled individuals. The law created Supplemental Needs Trusts, which enable you to leave any amount of money to a loved one who has special needs without affecting their eligibility for the state or federal benefits they receive.

The law further provides the trust proceeds must be used to provide luxuries for the disabled individual he or she would not otherwise receive under the state and federal programs. Luxuries can include trips, computers, power wheel chairs, prosthetics, or other comforts not generally provided by the government.

A Supplemental Needs Trusts can be created by an individual with their own funds or be created by someone other than a disabled individual, typically a parent or relative.

There are different rights and restrictions to each of these trusts, but both ensure immediate qualification for federal and state benefits (i.e., Medicaid) and provide benefits to the disabled beneficiary they, otherwise, most likely, would be unable to have.

When do I need guardianship for my special needs child?

As a parent of a special needs child, you are the child’s “natural guardian” and can make all decisions regarding the child. However, your rights as guardian do not allow you to have access or control of your child’s assets (i.e., proceeds from a lawsuit or gifts from a family member). In addition, when your child turns 18, you lose your rights as natural guardian to make health care and other life decisions for them. We can help you initiat a guardianship proceeding in Surregotes Court to get you appointed as guardian for a disabled child or family member. We recommend you begin this process six months prior to the special needs individuals eighteenth birthday.

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What They Are Saying...

"The team at the Estate Planning Law Center was such a big help to my family. With their help we were able to get my mom qualified for Medicaid in half the time that the nursing homes told us. Mom can now get the help she needs.
Thank you so much!"

~ Nancy H.

Estate Planning
Law Center

David J. Zumpano CPA/Esq.

555 French Road
New Hartford, NY 13413
Phone: (315) 793-3622
Email: info@eplawcenter.com