When a loved one has a disability, regular estate planning may not address all issues. An inheritance can affect their eligibility for benefits based on need. Careful planning is needed to make sure they continue to receive financial support while still accessing benefits.
Special needs planning considers more than what happens to property after death. It addresses how assets may be held and managed during your loved one’s lifetime. Our special needs planning lawyers serving Dublin can help you understand your options and create a strategy.
Hall Law Group has served thousands of families in the Bay Area. Call for a consultation and learn how our estate planning lawyers serving Dublin can assist you.
What Does a Special Needs Planning Attorney Do?
Special needs planning is estate planning designed around the circumstances of a person with a disability. The details depend on the person’s circumstances and the benefits involved. Our legal team can help you throughout the process.
- We can review your existing estate planning documents and identify provisions that may create problems for a beneficiary with a disability.
- Our attorneys will help determine whether a special needs trust or CalABLE account may fit the circumstances.
- Once the planning structure is selected, we’ll help prepare and coordinate the necessary documents.
- We will explain the trustee’s role and address beneficiary designations that need to align with the plan.
Working without special needs planning attorneys serving Dublin takes the guesswork out of preparing for the future. You’ll have peace of mind knowing that your loved one will be secure not just today, but for the rest of their life.
For a free legal consultation with a special needs planning lawyer serving Dublin, call (925) 460-0711
California Special Needs Trusts
A special needs trust can hold assets for a person with a disability while allowing the trust to provide for that person’s needs. The trustee manages the assets and makes distributions according to the trust document.
- A first-party special needs trust is a type of trust that holds assets for a person with a disability. Federal law allows certain trusts to receive special treatment under public benefit rules.
- A third-party special needs trust uses assets belonging to someone other than the person with a disability. Parents, grandparents, or other family members may use this type of trust as part of their estate planning.
The distinction between these trusts is important because they have specific legal requirements. The person establishing the trust, the beneficiary’s circumstances, and the trust’s terms all matter.
Dublin Special Needs Planning Lawyer Near Me (925) 460-0711
CalABLE Accounts and Special Needs Planning
A CalABLE account provides another planning option for an eligible person with a disability. It allows qualifying individuals to save and invest money for qualified disability-related expenses under the federal ABLE program and California’s CalABLE program.
Eligibility is subject to federal requirements. The onset of the qualifying disability is one factor that can determine whether an individual qualifies for an account.
CalABLE and a special needs trust can sometimes work together, though they serve different purposes. Our special needs planning lawyers working with Dublin clients will help you decide how either option should fit into your overall plan.
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Estate Planning for a Beneficiary With Special Needs
An inheritance can create an unexpected problem when a beneficiary receives needs-based benefits. Property received directly by that person may count as a resource under the rules of the particular program.
That does not mean you cannot leave an inheritance to your loved one. Instead, the estate plan may need to determine how the inheritance should be held and managed. A properly drafted special needs trust can be one way to provide ongoing financial support.
Beneficiary designations require careful review. Certain assets pass according to their beneficiary designation rather than through a will or living trust.
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Guardianship and Conservatorship for Adults
Special needs planning can involve more than financial assets. If an adult cannot make certain decisions independently, California law provides different mechanisms for addressing financial and healthcare decision-making.
An advance healthcare directive appoints a person to make medical decisions when the individual is unable. A limited conservatorship can help people with disabilities make important choices, but is not always needed.
The right option depends on each person’s specific abilities and situation.
Get Help from Our Special Needs Planning Attorneys Serving Dublin
Special needs planning can involve competing concerns. You may want to provide an inheritance without disrupting important benefits. You may also need to decide who should manage assets or make decisions if your loved one cannot do so independently.
Our special needs planning attorneys serving Dublin can help evaluate the available options and prepare a plan around your loved one’s circumstances. The goal is to create clear legal arrangements that provide support while taking applicable benefit rules into account.
At Hall Law Group, some of our attorneys are Board Certified by the California State Board of Legal Specialization as Specialists in Estate Planning, Probate and Trust Law. Our team is ready to get to work for you. Call now to schedule a consultation.
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