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Lombard estate planning attorneysWhen you consider what life will be like for your loved ones when you are not around to care for them, you may have serious concerns about family members who rely on you for the most care. You may have a child, a sibling, or even a cousin with a disability or other special needs. These needs may leave the person unable to adequately look after themselves. If you have been caring for a person with special needs, your death could lead to serious challenges for him or her, and your best option may be to create a special needs trust in the name of your loved one.

A Powerful Tool

Also known as a supplemental needs trust, a special needs trust is an instrument that places assets under the care of trustee to be utilized to help provide for a person with special needs. The most unique aspect of a special needs trust is that the funds contained in the trust are not considered to be “available assets” for the disabled individual, which means they cannot impact the person’s eligibility for Medicaid, Supplemental Security Income (SSI) and other income-based government programs.

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