Families of special needs children or adults are often worried about how to ensure their loved ones will be taken care of when they become incapacitated. Many grandparents and parents want to leave an inheritance to their loved ones who are disabled. This will allow them to live a comfortable life, beyond their government benefits.
Your government assistance can be cut if an inheritance you leave to a disabled relative is not properly passed on. These benefits programs are very strict about income and resources requirements. To prevent this, it is important to establish an Arizona special need trust. To learn more about special needs trust you can go through this link elderlawofaz.com/special-needs-planning/.
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An Arizona Special Needs Trust is better than a Will
You have many options when it comes to estate planning. The last will is one of the most well-known and widely used documents in estate planning. There are many benefits to the last will.
It can be used to transfer your assets, money, and property to your loved ones upon your death. You can also set the amount each of your heirs should get.
You can also designate a guardian or conservator for children under 18 years old, and you can appoint someone trusted to carry out your wishes.
To ensure you can pass on an inheritance to care for your loved one with special needs, an Arizona special needs trust is necessary.
This is a better choice than a traditional last will. Because receiving assets and money through a will could disqualify your family member for government assistance, it is an excellent option.
This type of trust can be very complex and challenging to draft. To ensure that this type of trust is properly drafted, it is best to hire an experienced special needs trust attorney.