Estate Planning Considerations for Utah Adults with Special Needs

If you are a parent of a child with special needs, or if you are an adult with special needs, estate planning considerations are especially important. This is because individuals with special needs may be receiving government benefits, such as Supplemental Security Income (SSI) or Medicaid. 

These benefits have asset and income limits, which means that if an individual with special needs receives a large inheritance, they may lose their benefits.

There are a number of estate planning tools that can be used to protect the assets and benefits of individuals with special needs. One of the most important tools is the special needs trust

What is a Special Needs Trust?

A special needs trust is a type of trust that is designed to provide financial support for individuals with disabilities. The trust is created and funded by the individual’s parents or other loved ones, and it is managed by a trustee. 

The trustee is responsible for using the trust assets to provide for the individual’s needs, without jeopardizing their eligibility for government benefits.

How Does a Special Needs Trust Work?

There are two main types of special needs trusts: 

Benefits of a Special Needs Trust

There are a number of benefits to using a special needs trust. One of the biggest benefits is that it can protect the individual’s eligibility for government benefits. Another benefit is that it can provide the individual with financial support for their needs, such as housing, medical care, and education expenses.

How to Create a Special Needs Trust

If you are considering creating a special needs trust, it is important to consult with an experienced estate planning attorney. An attorney can help you to create a trust that is tailored to your specific needs and circumstances.

Estate Planning Considerations for Utah Adults with Special Needs

In addition to a special needs trust, there are a number of other estate planning considerations for Utah adults with special needs. These include:

Securing the Future with the Law Office of Chris W. Chong

Planning for the future of Utah adults with special needs is not just a legal task but also an act of love. It’s about ensuring they live their lives with the dignity, respect, and care they deserve. By making informed decisions now, we can pave the way for a brighter tomorrow for them.

Whether you are at the beginning of the estate planning journey or are looking to update existing arrangements, seek the services of the Law Office of Chris W. Chong. 

Among the various Salt Lake City estate planning attorneys, their dedication to providing tailored solutions stands out. Secure your loved one’s future today. Take the next step and consult with our esteemed Utah estate planning lawyer.

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