Families that have loved ones with special needs worry about how they will care for them after their death. Many families wish to leave an inheritance so that their grandchildren or children can be cared for after they pass away.
A special needs trust can be a type of irrevocable trust that is created for the benefit of family members of persons with disabilities. You can contact https://elderlawofaz.com/special-needs-planning/ to get special needs trust services in Arizona.
Family members with special needs are beneficiaries. They are the foundation's basis. Families with special needs can't directly receive the benefits. The money must be distributed to recipients by someone.
The trustee is responsible for the management of the trust and its assets. The trustee also pays fees for the heirs, such as the division of trust funds.
The creation of a Arizona special need trust has many benefits. You can help your loved one who is disabled from losing their government benefits.
You can also supplement the government benefits they receive to help them live comfortably beyond what their assistance programs can provide.
You can also appoint someone to ensure that your trust is managed in accordance with your wishes and that the funds are distributed correctly without jeopardizing the benefits. It gives you the peace of mind knowing that your loved ones will be cared for.
A specialist trust attorney can help you draft your trust. These lawyers draft these documents for a living, and can help you to protect the benefits of your family members.