Plan For The Future Of A Child Who Has Special Needs
You want to plan for the future of your child who has special needs, and you are considering establishing a special needs trust. A special needs trust can be a very helpful tool for passing on your wealth and safeguarding your child’s financial stability.
For 10 years, The Law Office of Meagan Nuñez has provided knowledgeable, compassionate representation in all areas of disability law. Based in the San Diego metro area, we work closely with the parents of children who have special needs. We can sit down with you to discuss your options when it comes to establishing a conservatorship or a special needs trust to pass assets to your child.
How Does A Special Needs Trust Work?
Special needs trusts are a type of financial arrangement that allows you to pass money or other assets to a beneficiary. A special needs trust allows the beneficiary to receive government benefits such as Supplemental Security Income, which they would otherwise lose if you were to give assets to them directly. Generally, special needs trusts are managed by a family member. In some cases, a third party such as a guardian can act as the trustee.
Is A Conservatorship Right For My Child?
If someone does not have the capacity to manage their own finances, it may be necessary to establish a conservatorship. A conservatorship is a court action in which a judge names a conservator to manage assets of someone who cannot manage them due to an illness, advanced age or a physical disability. Similar to a special needs trust, a close family member usually acts as the conservator. The assets in a conservatorship, however, can disqualify the conservatee from receiving government benefits.
Work With Us To Plan For The Future
We provide free initial consultations at our office in San Diego. Contact us today to schedule an initial consultation where you can ask an attorney about special needs trust. To reach us, send the firm an email or call 619-757-1290 today.