Estate planning for an individual with special needs takes careful consideration. You want to set the stage for a secure financial future without compromising access to services that many disabled people rely on for support later in life. Numerous estate planning tools can help accomplish these goals. However, selecting the right strategy for your situation may be challenging without guidance from an experienced attorney.
Whether you or a loved one needs assistance with special needs planning in Westchester County, Amoruso & Amoruso LLP can help. With nearly 60 years of combined experience, our lawyers provide comprehensive estate planning services that focus on preserving wealth to serve your interests and well-being. Special needs planning is one integral piece of that process, and we excel at it.
To learn more about our approach to special needs planning, call or contact us today for a consultation.
What is Special Needs Planning?
Special needs planning involves making legal arrangements to provide for the care of a disabled or incapacitated person so that they receive support when you are no longer around as a caretaker to assist them. It also involves ensuring that any assets attributed to the disabled individual do not interfere with their eligibility for government benefits like Supplemental Security Income (SSI) or Medicaid, whether those assets belong to the individual or people who want to support them, such as parents, grandparents, or legal guardians.
Key Components of Special Needs Planning
Special needs planning may incorporate several estate planning tools, such as:
- Guardianships (or an alternative to guardianship)
- Special needs trusts
- Long-term care planning
- Financial planning
- Transition planning
- ABLE accounts
With the right strategies in place, special needs planning can also set aside funds to enhance the beneficiary’s quality of life for qualified expenses like education, health care, personal support services, transportation, and food.
Why Should I Hire a Special Needs Planning Attorney in Westchester County?
Special needs planning requires a comprehensive understanding of federal and New York disability laws.
A Westchester County special needs attorney can help you identify the strategies best suited to your needs and incorporate them into an effective estate plan. This may include creating or updating wills and trusts, petitioning for guardianship, financial planning, Medicaid planning, and ensuring that your estate plan complies with ever-changing tax laws.
When Should I Consider Special Needs Planning?
Though special needs planning can be done at any time, parents should remember that without advanced planning, they lose their authority to make decisions on behalf of a disabled child once the child turns 18. Having a plan in place can ensure your child is equipped with appropriate supports when they reach adulthood without unexpected legal stress for everyone involved.
Contact Our Westchester Special Needs Planning Attorneys Today
When you have a loved one with special needs, hiring experienced legal counsel can help your family protect their rights, interests, and welfare. Let Amoruso & Amoruso LLP be your guide. Contact us today for more information about future planning for disabled loved ones.
