Obtaining personalized attention from an experienced professional is the key to crafting an estate plan that is ideally suited to fit the needs of your family. There is no universal course of action, and this is something to keep in mind when you hear entities claiming that estate planning is something that you can do for yourself with the benefit of some generic template documents.
Depending on the specifics of your situation any number of approaches may be optimal. One specialized circumstance that many families must address is that of providing resources for a family member with special needs.
It is not as simple as passing along resources directly without carefully positioning them because a high percentage of people who do in fact have special needs receive certain benefits from the government. People in this situation could see their benefits jeopardized if they were to receive a direct influx of financial resources.
Making an heir who has special needs the beneficiary of a supplemental or special needs trust is an option. These trusts are finely crafted to enable the beneficiary to utilize the funds to increase his or her quality of life without negatively impacting benefit eligibility.
Shaping your legacy to suit the needs of each individual in your family is a profound act that requires the attention of an experienced legal professional. To discuss your unique situation with an expert, take action right now to arrange for a consultation with a seasoned, savvy Central New Jersey estate planning attorney.
Alan Augulis, Estate Planning Attorney
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