Top Elder Law Attorney Rory Clark founder of the Legacy Elder Law Center in Leesburg, VA, details how a special needs trust can protect a family's disabled child throughout their lifetime. For more information please visit https://legacyelderlaw.com
Leesburg, VA, United States - April 3, 2023 —
Parents can provide long-term protection of a child with disabilities by using a Special Needs Trust, highlighted Elder Law attorney Rory Clark this week.
For more information please visit https://legacyelderlaw.com
The Legacy Elder Law Center founder in Leesburg, VA., elaborated: “A Special Needs Trust will help a child with disabilities from losing government benefits, such as Supplemental Security Income or Medicaid.”
He detailed: “There are numerous options in passing down an estate to a child, such as leaving an inheritance or placing an estate with close family members.”
“Contrary to what many think, leaving an inheritance to someone reliant on government assistance can do more harm than good. An inheritance can negatively impact a child’s ability to qualify for certain programs.”
These programs include services that a child with disabilities might require throughout their lifetime, such as assisted or group housing, employment support, personal care aides, assistance in transportation and specialized medical services.
He said: “If government support is restricted or limited in some way, a Special Needs Trust can provide financial security. If for any reason your child can no longer benefit from public assistance fully, the money held in a trust can act as a backup of funds that can be made available to them.”
Setting up a Special Needs Trust can also ensure trust assets are well-managed and work to benefit the child over the long term.
Mr Clark said: “One of the main features of a Special Needs Trust is that assets held there are not directly available to the child. They must first be released by a trustee, who can also act as the child’s money manager to ensure the funds are spent as intended.”
He recommended parents consult an attorney who specialize in developing well-drafted and clear Special Needs Trusts, a service that is available at the Legacy Elder Law Center .
Mr. Clark concluded: “Contacting a law firm, like the Legacy Elder Law Center, that works exclusively in this area to create a comprehensive legal plan for you and your child is probably the best starting point. They can then outline all the options and help parents build a robust and effective trust.”
Source: http://RecommendedExperts.biz
Contact Info:
Name: Rory Clark
Email: Send Email
Organization: The Legacy Elder Law Center
Address: Market Station, 108 South Street, SE, Suite 212, Leesburg, VA 20175
Phone: 703-783-1195
Website: https://legacyelderlaw.com
Release ID: 89092891
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