Bakersfield, CA, California, United States - May 2, 2022 —
A special needs trust can offer a practical approach to protecting the long-term future of a child with disabilities, Estate Planning attorney Robert Brumfield disclosed this week.
For more information please visit https://www.brumfieldlawgroup.com
In Bakersfield, CA, the Founder of the Law Offices of Robert H. Brumfield, P.C., said such a trust could prevent a disabled child from losing government benefits, such as Supplemental Social Security Disability Income (“SSDI”) and Medicaid.
“Contrary to what many think, leaving an inheritance to someone reliant on government assistance can do more harm than good,” he said. “An inheritance can negatively impact a child’s ability to qualify for certain programs.”
These programs include services that a child with disabilities might require throughout their lifetime, such as assisted or group housing, employment support, personal care aides, transportation assistance and specialized medical services.
“If government support is restricted or limited,” Brumfield said, “a special needs trust can provide financial security for the child.”
He elaborated: “If for any reason your child is no longer able to benefit from public assistance fully, money held in this special trust may act as a source of backup funds and be made available to your child, with or without further restriction.”
A special needs trust ensures assets are well managed and work to benefit the child for the long term. Brumfield said: “One key feature is that assets held in trust are not directly available to the child. A trustee disburses the money and acts as the child’s money manager to ensure funds are spent as intended and that such disbursement does not violate government regulations.”
He advised contacting an experienced estate planning attorney when considering setting up a robust special needs trust. “It’s not enough to write down what you want to be done with your estate,” he pointed out. “Contact a lawyer who works exclusively in this area to assist you in mapping out a legal plan that’s best for you and your child.”
source: http://RecommendedExperts.biz
Contact Info:
Name: Robert H Brumfield
Email: Send Email
Organization: Law Offices of Robert H. Brumfield, P.C.
Address: 1810 Westwind Drive, Suite 100, Bakersfield, CA 93301
Phone: (661) 416-3735
Website: https://www.brumfieldlawgroup.com
Release ID: 89073572
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