Special Needs Estate Planning Lawyer Lithia, FL

Estate planning isn’t just for the very wealthy. In fact, people with disabilities or special needs can significantly benefit from insightful estate planning from a savvy Lithia, FL, special needs estate planning lawyer. When someone receives federal or state benefits, like Medicaid, Social Security disability, housing subsidy, food stamps, or other benefits, they are limited on how much income they can earn each month and how much in savings and other assets they may possess. Many of these programs are income-based; exceeding the income eligibility threshold can render recipients ineligible, even if they have special needs or a disability and cannot provide for themselves without the benefits.

A special needs trust and other estate planning tools can help you or a loved one with special needs retain their benefits yet still receive an inheritance or other money to enhance their quality of life. At Morton Law Firm, we use our extensive knowledge of Florida and federal law to develop a robust estate plan, including a Special Needs Trust and Medicaid planning, to ensure that your loved one can benefit from assets you wish to gift or bequeath them, yet still maintain their benefits eligibility. Contact us today to learn more.

Why Do I Need A Lithia Special Needs Estate Planning Lawyer?

There are multiple reasons that people with special needs need an estate planning lawyer. Some of the primary reasons that people with disabilities and their families contact our firm for assistance include:

• Maintain eligibility for critical benefits. Estate planning can provide supplemental money for people with special needs while still allowing them to be eligible for Medicaid, Social Security Income (SSI), and other government-sponsored benefits.
• Long-term planning. What happens when someone with special needs receives a lump sum inheritance or even income from a regular trust? They may lose their benefits eligibility (as the programs have income limits for eligibility), but the money they receive may not be enough to fully cover the needs that their benefits did. A Special Needs Trust (SNT) is a particular type of trust that permits the beneficiary to benefit from the trust, without being in direct control of the money and assets contained in the trust, thereby maintaining their benefits eligibility.
• Protect your loved one from being exploited or defrauded. The trustee manages and disperses the funds and is required to regularly submit an accounting of how the trust was used to benefit the person with special needs. This reduces the opportunity for financial exploitation.
• Permit other friends and family to contribute to the person with special needs. A friend or other family member may also contribute to the SNT instead of giving the person with special needs money directly or bequeathing money to the trust.

Start Planning Today And Face The Future With Confidence

Planning for the care and safety of your loved one with special needs or disabilities can feel daunting, especially if you are a parent worried about what will happen to your child when you pass away. Caregivers and family can rest easier once they’ve set up proper estate planning for their loved one with special needs, knowing that they will be provided for securely. Let the legal team at Morton Law Firm develop a customized estate plan for your family and your loved one. Contact us today to get started with a Lithia special needs estate planning lawyer.