Special needs lawyers in Houston recognize that when you have a family member with a disability, there seems to be no end to the additional considerations that need to be made in daily life. It is not unusual to get so caught up in the day-to-day concerns that parents and caregivers have little time to even think about estate planning. However, special needs planning is a vital part of caring for those who need help caring for themselves.
There is a lot of information to understand when it comes to special needs planning in Texas, but today is just about taking one small step forward by learning the basics of a special needs trust.
The Special Needs Trust
It is not enjoyable to think about how your loved one will continue on without you, but it is incredibly important. Putting off planning is a bit of a dangerous proposition should the unexpected happen. Instead, getting to know how your assets can be used to continue to care for your loved one is incredibly important.
The special needs trust is one of the best tools you can use. By putting funds into a trust, you may even be able to ensure that your loved one’s care continues without affecting his or her eligibility for government aid in the future. Simply leaving your assets in a will does not afford this same kind of protection and can cause some pretty big disruptions and upheaval.
The most pressing aspects that a special needs lawyer in Houston will discuss with you in creating the document are:
· Naming a Guardian – This is the person who will be responsible for the physical well-being of your loved one.
· Naming a Trustee – This person will manage the assets of the trust for your loved one’s financial support.
· Providing Instruction – As the primary caregiver, you have more insight into your loved one’s needs than anyone. The trust will allow you to lay out those needs, as well as your wishes for him or her.
While it is possible to name the same person as the guardian and the trustee, it may not be the best option, so be sure to discuss this with a special needs planning lawyer in Houston. He or she will also help you develop the instructions for the special needs trust and will likely have insight into areas you may have overlooked, including the individual’s personal, emotional, housing, medical, and educational needs.
Special needs planning lawyers in Houston should have specialized knowledge in this area, so be sure to discuss your attorney’s qualifications and experience when choosing the right one. If you have additional questions or would like to schedule a complimentary consultation with our attorneys in Houston, contact our office at (281) 218-0880.