Gifting to Children with Special Needs

by John Mcclane Professional SEO Expert

People with physical or mental disabilities can receive benefits from the government depending on their financial situation. Often though these benefits are a useful boost to their income, it is not enough to live on and they need gifts from friends and relatives helping to care for them. It is possible to see a lawyer for help with special needs planning in Wall, NJ, Red Bank, NJ, Jupiter, FL or where you are. That might include setting up a trust or a gift via the will so that on your passing they receive additional financial support. However, it needs to be with an experienced practitioner because you do not want the money you gift to affect their benefits.

As well-meaning as you may be in leaving them something in your will, it is important to consider what the effects will be, on the benefits they receive as well as whether that person is actually able to carefully manage the funds you leave them. With a lawyer that has expertise in special needs planning, Wall, NJ, Red Bank, NJ, Jupiter, FL or anywhere, you can make sure the gift you leave is the best for the recipient. In most situations, a lawyer will advise you to set up the funds in a special needs trust or a supplemental needs trust.

Setting up a trust of this kind allows you to leave larger amounts to the receiver with special needs, whether they are a child or an adult. With help from an expert, you can make sure that no benefits are cut or lowered because of the gift, that government does not make a claim against the property and that they are correctly managed and not improperly used.

How much a person gets in assistance or as benefits from the government due to special needs depends on several factors. The assets they have access to can impact that, either decreasing the amount they can get or even stopping them from getting any at all. With special needs planning in Wall, NJ, Red Bank, NJ, Jupiter, FL you can be comfortable that with the setting up of the right kind of trust they have an enriched life above the benefits they can still receive. Essentially because the individual does not have actual control over the assets, they cannot be used for basic needs, they can still get the benefit.

A person is that can be trusted is the one in control of it, the trustee. They use it to the benefit of the receiver with special needs. Getting medical equipment they might need, making changes to living arrangements, for a maid service, putting in a wheelchair ramp and so on. special needs planning red bank or special needs planning toms river, anywhere can ensure the right trust is created and that it is run honestly. So before you plan on leaving money to someone in your will, talk to a lawyer about what is the best way to make sure it is to the benefit of the person with special needs.