Estate Planning Involving a Child with Special Needs in New Jersey

Our NJ Lawyers Provide Essential Insights into Special Needs Estate Planning

Parents and caregivers of children with special needs face unique challenges when approaching estate planning. They want to ensure that their children are fully cared for after they are no longer able to be primary caregivers; however, some of their financial support to this end could upend eligibility for government benefits the children would receive. In addition, they need to consider not only their children’s inheritance of the estate assets but also the essential factor of those children’s future guardianship.

Our team at Bronzino Law Firm has spent years helping families of children with special needs prepare their estates strategically to ensure that their children receive the full support available to them. We guide you through a comprehensive estate planning process that allows you to rest knowing that your special needs child will go on to thrive in your absence in Manasquan, Wall, Sea Girt, Freehold, Eatontown, Red Bank, Monmouth Beach, Bradley Beach, and throughout Monmouth and Ocean County. Contact us today at (732) 812-3102 for a free consultation or online to learn more about how we can assist you with estate planning involving a special needs child.

Estate Planning for Families with Special Needs Children in New Jersey

Estate planning for families with a special needs child involves two major aspects: settling the estate or arranging the child’s inheritance and preparing for guardianship of the special needs child into adulthood. All parents face challenges when considering their children’s financial well-being after they are gone. Parents with special needs children, however, must face extra challenges as they consider their child’s transition into adulthood and their life after they are gone. Traditional estate planning, including wills, for example, may not serve a special needs family, so an estate planning attorney is needed to skillfully craft an estate plan that protects the child’s myriad financial supports into adulthood. Read on to learn more about how an estate planning attorney works with a special needs family to consider the unique challenges of ushering a special needs child into adulthood.

How Estate Planning can Secure Government Benefits for Your Special Needs Child

Special needs estate planning with a qualified attorney carefully considers and protects the various resources available to a child with a disability into their adulthood and throughout their life. An attorney works with parents to develop a comprehensive plan that keeps all avenues of financial and individual support open to the child, a feat that is more complicated for special needs families than for traditional families. For example, traditional estate planning involving a will may not be available to special needs families because receiving a financial windfall through a will could render the child ineligible for important government benefits. Children with special needs often receive government subsidies such as Supplemental Security Income, or SSI, and Medicaid. SSI is a federal subsidy that provides monthly financial support to disabled adults with few other resources or access to care. Medicaid provides health coverages to disabled individuals. Each of these government benefits is available only to individuals with limited additional financial support, so receiving a large inheritance (needed to cover the many expenses involved with continued care) could jeopardize the child’s access to other important funds.

An experienced estate planning attorney such as ours at Bronzino Law Firm can work with these families to set up a Special or Supplemental Needs Trust. This avenue allows the disabled child to continue to access funds from their parents’ estate while remaining eligible for government benefits capped by financial need. This type of estate planning specificity is essential for all families of special needs children and highlights the importance of having a qualified estate planning attorney on your side.

Financial Benefits of a Special Needs Trust for Your Adult Child

A Special Needs Trust can financially cover a number of ongoing expenses for an adult special needs child. These include housing and transportation; healthcare not covered by additional benefits such as dentistry, physical therapy, and dermatology; education and jobs training; equipment and hardware required by the child such as communication technology, computers, electronic transportation, etc.; attorney costs for legal guardianship matters; and more.

Future Decision-Making for Individuals with Special Needs in NJ

Legal guardianship is a consideration that some special needs families must make as part of their estate planning. Adult disabled children who are not able to make their own medical and financial decisions need someone who is legally responsible for making those decisions on their behalf. Parents can plan in advance for this need. They may designate in a Power of Attorney document someone to make legal decisions on behalf of their child once they are no longer around to do so.

Contact a Freehold NJ Special Needs Estate Planning Attorney at Bronzino Law Firm for Help Today

In cases of estate planning involving a child with special needs, an attorney is a necessary companion for the process. The primary importance of such an ally is that this professional ensures your child access to all of your financial assets you want to pass down to them, while still preserving their eligibility for government support. This requires foresight and a strategy that traditional estate planning does not provide.

Our team at Bronzino Law Firm, LLC has been a trusted legal resource and partner for families with estate planning matters involving special needs children in Belmar, Asbury Park, Little Egg Harbor, Lavallette, Sea Bright, Point Pleasant, Lacey, Barnegat, Long Branch, and elsewhere in Monmouth or Ocean County for years. We are experienced in attending to your family’s unique needs and look forward to supporting you in securing the future of your special needs son or daughter. Contact us today at (732) 812-3102 for a free consultation to discuss your family’s situation and find out how we can assist you.