Special Needs Trusts: Protecting Your Child’s Financial Future
According to a recent U.S. Census Bureau brief, over 4 million children in the United States had a disability in 2019, defined as difficulty with one or more of the following activities:
- Concentrating or remembering (ages 5 and above)
- Walking or climbing stairs (ages 5 and above)
- Dressing or bathing (ages 5 and above)
- Doing errands alone such as buying groceries or going to the doctor (ages 15 and above)
If you have a child with a disability, you’ve probably thought about what will happen to them when you’re not around anymore. Thankfully, there’s a simple solution – create a Special Needs Trust.
A Special Needs Trust allows you to leave assets to your disabled child without jeopardizing their government benefits. Funds in a Special Needs Trust can make a big difference in quality of life by paying for:
- Annual independent check-ups
- Personal care attendant or escort
- Vehicles and transportation
- Essential dietary needs
- Materials for recreation
- Trips and vacations
- Athletic training or competitions
- And much more
You can also appoint a trusted friend or family member to oversee the Special Needs Trust for your child’s benefit and protection when you’re gone.
I’ve helped numerous clients create Special Needs Trusts to protect their disabled children, and I can help you too. Please contact me at Ross@RossSpanoLaw.com or (813) 244-7758, and let me show you how to have peace of mind about the future of your disabled child.