Special Needs Planning for Grand Forks and the Surrounding Communities
Special needs planning in Grand Forks can be complicated, but we can help you navigate what you should know. When a family member has special needs, it’s essential to safeguard their future. Unfortunately, a well-meaning effort could cause the loss of access to government benefits. It is important to work with a lawyer who handles special needs planning effectively. This helps you support the disabled person you care about while protecting them financially.
Thompson Law, PLLC has extensive experience with all aspects of special needs planning. Our team guides you through the process so you know what plans to make. You can make effective use of legal tools to provide protection for your disabled family member. Get answers to questions you have about the special needs planning process, including:
- Do I need to create a special needs plan?
- What should I include in my special needs plan?
- How can a special needs planning lawyer in Minnesota or North Dakota help me?
Do I Need Special Needs Planning in Grand Forks?
If you have someone in your life with special needs, you may need to create a special needs plan. You should create this type of plan if you are responsible for the day-to-day care of a disabled person. This is also true if you provide financial support of someone with a disabling condition.
Instead of making a plan, you can opt to provide a financial gift. This could enhance their life, but could cause the loss of important Medicaid coverage. In addition, the disabled person could lose access to Supplemental Security Income (SSI). Both programs are means-tested, which means there is a threshold for income amounts to qualify.
Many disabled people use Medicaid for their medical coverage and rely on SSI as their monthly income. You do not want to be inadvertently responsible for causing these benefits to end. With a plan, financial gifts don’t have to affect their situation.
If you are providing physical care for a disabled person, making a plan is also vital because something could happen to you at any time and leave you unable to provide care. You don’t want to leave the future of your disabled loved one uncertain because you did not make a plan for continued, safe care.
What should I Include in my Special Needs Plan?
When you make a special needs plan, the legal tools you will need to include in your plan will vary depending upon your responsibilities to your disabled loved one. You should name a guardian for your special needs child when you pass away. This person can make plans for your disabled love one, including decisions about their living situation.
If you only plan on a financial gift to enhance their quality of life, you won’t need to name a guardian. You should structure your gift to avoid a loss of access to benefits. While a special needs trust is usually the best tool to use, you should talk with an attorney about your options.
Creating a special needs trust will allow you to name someone to manage funds for a person whose disability may make money management impossible. It will also ensure your financial gift does not cause hardship though a loss of benefits access. You want to ensure you follow the proper protocols for creating a trust correctly to get these substantial benefits, and Thompson Law, PLLC can help you with this process.
How Can a Special Needs Planning Lawyer in Grand Forks Help Me?
If you have someone you care about with special needs, don’t hesitate to reach out to Thompson Law, PLLC. Our legal team has helped many families in Grand Forks and the surrounding communities to make the plans they need to achieve a more secure future for a loved one with disabilities. We will work with you to use the legal tools you need to make the right plan for your situation. Give us a call today at 605-362-9100 to find out more about how we can help.
