Family members with a disabled family member worry about how they will provide a comfortable life for their loved one when she is no longer able to care for them. What is an Arizona Special Needs Trust? Estate planning is an important step. You are creating a plan to protect your family and pass your assets, money, and property to them after your death. You can also browse online to discover more about the benefits of having a special needs trust in Arizona in Arizona.
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People with special needs often want to use their assets to ensure their loved ones are taken care of after their death. The government has strict rules about who is eligible for assistance benefits, based on their income and resources.
If your family member is disabled and receives a large inheritance, they may be disqualified from receiving their needed benefits such as SSI or Medicaid. There is a way out of this quandary. An Arizona special needs trust allows you to use your assets for the benefit of your loved one who is disabled, while also preserving their government benefits.
What is the purpose of a Special Needs Trust?
An Arizona special needs trust (also known as a Supplemental Needs Trust) is a complex document. It is a good idea to consult a special needs trust attorney if you are creating trust for a loved one.
A poorly drafted special need trust could result in your loved ones losing their benefits after your death. Understanding the roles of each party is key to understanding how a special need trust works. An attorney who specializes in special needs trust lawyers can help you make sure that your loved ones are taken care of according to your wishes.