Thursday, March 31, 2011

Parents of Disabled Kids Discover the Importance of Houston Special Needs Planning

By: Kim Hegwood, Houston Special Needs Planning Attorney

Estate planning is incredibly important for all parents, as it allows them the opportunity to make very difficult choices.  It provides the chance to determine who will raise your minor children if you can’t, what money will be set aside or used for their upbringing, and even what money will be used to support them as adults.  Each of these choices can become even more difficult when the child has disabilities, especially if he or she is receiving some type of government assistance.  This is where working with a Houston special needs planning attorney comes into play.

A special needs planning attorney is familiar with the most common choices faced by parents of children with disabilities and can offer advice and suggestions on how to plan for that child’s care.  They also understand the ramifications of inheritance when it comes to eligibility for government assistance.  Here in Houston, as in other places across the country, planning tools such as a “special needs” or supplemental needs trust must be set up a very particular way in order to meet government standards and allow for the continuation of other benefits.

However, special needs planning is not just about maintaining government support.  It also protects the disabled individual from lawsuits and other debts, as the trust cannot be seized in order to pay these.  This protects the trust and the individual who relies upon it for his or her ongoing care.

A Houston special needs planning attorney will be familiar with how local, state, and federal laws interact in order for parents to put together a plan that best protects their child.  It is highly recommended that you seek out a lawyer who specializes in special needs trust planning.  He or she will help set up your child’s trust, as well as explain all the details such as how a trustee will manage the assets for the beneficiary.

If you are ready to get started in creating a plan that makes sure your disabled child stays physically and financially protected if something happens to you, I invite you to give our office a call at (281) 218-0880 and schedule a Lifetime Legacy Session. These sessions are normally $750, but we’ve made space for 10 area families to come in this month absolutely free of charge.  Simply call (281) 218-0880 to reserve your free planning session today.