There are many scenarios that may lead you to want to provide whatever you are able for someone in your family without leaving them your inheritance outright. If someone in your family is receiving government benefits you do not want them to lose — due to an illness or disability that prevents that person from working, for example — we can help.
A special needs trust — sometimes called a supplemental needs trust — is most often set up to provide money over an extended period to a family member with a disability. It may provide income to the person in need on an established schedule, allowing the heir to have a higher quality of life while protecting his or her right and ability to receive government benefits such as Supplemental Security Income (SSI), Medicaid or certain veteran's benefits.
Applying personal attention and careful analysis to each situation, we provide comprehensive estate planning to match your unique goals. Depending on circumstances, your plan may include:
• Establishment of an irrevocable special needs trust that allows members of your extended family to contribute over time
• Specific language written into a will or other type of trust that helps maximize someone's total income and assets if you become incapacitated or pass away
• Other forms of long term care planning for other family members as well as yourself
At The Hingson Law Firm PC, we work with many northern Oregon families that have a need to provide for the future of an adult or child with special needs. Attorney Phil Hingson has extensive knowledge of various types of trusts, and he is ready and willing to help you identify, develop, and execute a comprehensive estate plan that accounts for this need.
To explain your situation and its various nuances to an attorney who cares and will explain your various legal options in plain English, so that you can make a confident decision, please contact us at 503-213-3916 today.