If you have a loved one with special needs and wish to give them an inheritance, it may be more complicated than simply giving them a percentage of your estate outright, especially if they are receiving governmental assistance. An outright inheritance to a person receiving government support constitutes a "resource" that will likely disqualify them from public assistance or reduce their benefits.
Families with loved ones receiving government benefits should consider a Special Needs Trust. A Special Needs Trust supplements governmental assistance instead of replacing it. This allows your loved one to inherit some money from you in order to enhance their quality of life, but does not jeopardize their existing benefits.
The Taormina Firm works closely with you to create a Special Needs Trust that does not disqualify your loved one from receiving important aid. The money held in their separate trust can be used for their recreation, travel expenses, care not otherwise provided by the government, and much more. However, the money cannot be used on items covered by their governmental benefits.
If you have a loved one with special needs, please contact St. Louis special needs attorney Vince Taormina to learn more.
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