Special Needs Planning

Serving clients in Fredericksburg, Richmond, Virginia Beach, and Williamsburg

Parents with minor or adult children who need (or may need) ongoing care have specific planning challenges, such as not jeopardizing access to available government support. Trusts can be set up for the benefit of special-needs children, grandchildren, oneself or other family members, and such provisions can be incorporated into other Revocable Living Trust planning.

The most common “special needs” scenario involves children with severe physical or mental problems, which will prevent them from attaining financial independence. In this context, the existence of family money, whether a trust for the child or some other forum, might disqualify the child from governmental assistance that would otherwise be available.

The focus of our Special Needs Planning is to enable a trustee to divert the flow of trust funds, if necessary, in order for the child to remain eligible for government programs. With proper planning, the special needs individual can remain qualified for assistance under various government programs while still enjoying family-provided funds, which may substantially enhance the individual’s quality of life and the family’s peace of mind.

Visit our blog to learn more about special needs planning.