Practice Area:Estate Planning
Outcome:Special Needs Trust
Description:Met with parents who have a child who was diagnosed with autism. They were concerned that as the child reached adulthood, that the child would likely be unable to work and would need government assitance, but also the financial assistance of various family members. While I also did the couple's estate planning that included disability and asset protection for them and their other children, I also established a Special Needs Trust for the benefit of their child with Autism. This trust will allow the parents to leave a percentage of their assets to the SNT for the benefit of this child, while also protecting the ability for the child to receive government assistance through programs like SSI and SSD. This also allowed other family members like grandparents and aunts or uncles to leave some assets to this trust for the benefit of the child, whether as an minor or adult. The clients were very happy with the result and have peace of mind that their son will be taken care of if they aren't there to provide needed assistance, financial or otherwise.