SPECIAL NEEDS PLANNING

BENEFIT PRESERVATION

When you are receiving public benefits and you receive assets that would put you over the program limit, it is important to act quickly to plan for receipt of the asset while maintaining your benefits. A special needs trust is a great tool that helps preserve your funds and your benefits. SAGE LEGAL GROUP has expertise with all types of special needs trusts, including self-drafted trusts, Wispact trusts, and Life Navigators trusts.

SAGE LEGAL GROUP can help you maintain public benefits after receiving countable assets, including:

  • A personal injury settlement

  • A gift or inheritance

  • Social Security backpay

  • Sale of a house

  • Accumulation of countable assets

SAGE LEGAL GROUP also helps families create third-party supplemental needs trusts when family members wish to leave inheritance or make gifts to a person with special needs.

We can also help clients understand the difference between special needs trusts and ABLE accounts, and when one or both should be utilized.

SPECIAL NEEDS TRUSTS

As the parent or grandparent of a child with special needs, unique planning must be done to set up your estate plan to preserve the public benefits of the child. SAGE LEGAL GROUP can help you look at the unique needs for estate planning for a child with special needs, including:

  • Third-party funded Supplemental Needs Trusts

  • Community trusts, such as WisPACT or Life Navigators

We can also help parents plan for their child’s 18th birthday. A child turning 18 is a big milestone for every parent, but it becomes even more important when you have a child with special needs. We can help you navigate the different planning options to ensure that your child still has the support they need when becoming a legal adult. Some options are:

  • Powers of Attorney

  • Supported Decision-Making Agreements

  • HIPAA and School Record Authorizations

  • Guardianship or Conservatorship

Often, when a child turns 18, their benefits change or it may be the time to first apply for public benefits. SAGE LEGAL GROUP specializes in preserving finances for people receiving public benefits, and can help you create a special needs trusts and determine whether an ABLE Account is another useful tool for your child.