Family members with special needs, whether it be a physical disability developed later in life or an intellectual or development disability that has always affected them, may be entitled to very valuable means-tested, government benefits like Social Security or Medicaid, either now or at some point in the future. However, eligibility for these types of benefits require the beneficiary to have limited economic means.
Government Benefits and Regulations
Should something happen to the parents, the individual may find himself or herself inadvertently receiving an inheritance that may disqualify them for means-tested benefits. Simply put a lack of planning can have a substantial negative impact on individuals with special needs. Fortunately, working with a North Carolina special needs planning lawyer can help your family plan for unexpected illnesses or accidents so that the beneficiary can maintain these valuable benefits regardless of what happens.
Building a solid framework for asset succession to an individual with special needs requires knowledge of, and experience working with, complex government regulations. This is a not a task to be taken lightly, and certainly not something that most attorneys can do.
Having A Plan In Place
One wrong word can be the difference between life and death for an individual with special needs. Working with an experienced North Carolina special needs planning lawyer can help protect your family member from creditors and predators, safeguard assets from unwise spending, and help supplement, rather than supplant, government benefits.
Working with an experienced NC special needs planning attorney can also give you valuable insight into the inner workings of a special needs trust and how distributions from the trust are treated under current Social Security and Medicaid regulations. Your attorney can also keep you informed with changes in the law or regulations that may impact your family.
If your child or a loved one has a disability that currently impacts, or may impact in the future, his or her ability to work or care for himself or herself, it’s extremely important to get the right plan in place as soon as possible.
Please contact us to schedule a consultation with one of our special needs planning attorneys to discuss ways to protect your family and loved ones today and for the future.