Leaving Money for Your Special Needs Child in Your Will

QUESTION

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Q: Should I leave money for my child with special needs in my will?

– Prudent Parent

ANSWER

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A: Dear Prudent:

No, and let me explain why—when planning for a loved one with special needs, you must be extremely careful and always work with an experienced lawyer like us, because if handled improperly, you can easily disqualify your loved one with special needs from much-needed government benefits.

Because individuals with special needs often require a lifetime of care, most of them rely on government programs to offset the exorbitant costs of such care. However, these programs have strict income limits, so if you leave money directly to a person with special needs, such as through your will, you risk disqualifying him or her for those benefits.

Instead, the government allows assets to be held in what’s known as a Special Needs Trust to provide supplemental financial resources for the person for the rest of his or her life, while preserving their access to government benefits.

However, the rules for Special Needs Trusts are complicated. So if you have a loved one with special needs, be sure to consult with us. We can make certain that upon your death, your loved one with special needs will have the financial means they need to live a full life, without jeopardizing their access to vital government benefits.

This article is a service of Legacy Counsel PLC, a trusts and estates law firm in Saint Joseph, Michigan. We don’t just draft documents; we ensure that you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life and Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and become empowered to make all the best choices for the people you love. You can begin by calling our office today at 269-932-4017 to schedule a Life and Legacy Planning Session. Or you can schedule your appointment online here. Mention this article to find out how to get this $750 session at no charge.