For the parent of a child with special needs, comprehensive estate planning takes on a heightened importance. It is natural to worry about providing for your child if something were to happen to you. As the parent of a special needs child, wondering about what adulthood will look like for your child is also a concern. The bottom line is; special needs children need special attention. Thus, the sense of urgency to provide a plan for a special needs child is often heightened. If you have a … [Read more...] about What Is a Special Needs Trust?
Special Needs Planning
Using a Special Needs Trust to Protect an Injury Settlement
Sometimes a loved one is born with special needs; however, a catastrophic accident can also lead to a loved one becoming a “special needs” individual. When that is the case you can face a dilemma when it comes time for your loved one to accept a personal injury settlement or award. If your loved one is dependent on the benefits offered by federal programs such as Medicaid or SSI a lump sum injury settlement or award can cause your loved one to become ineligible for those benefits. Often the best … [Read more...] about Using a Special Needs Trust to Protect an Injury Settlement
When Do I Need a Special Needs Trust?
If you are the parent of a special needs child you likely worry about your child’s future. Specifically, you may worry about the day when you are no longer around to provide the day to day care and the financial support your child will likely always need. A special needs trust can go a long way toward alleviating your concerns and ensuring that your special needs child is financially provided for long after you are gone. Although each special needs individual is unique, most share a need for … [Read more...] about When Do I Need a Special Needs Trust?
First Party Special Needs Trust in Houston Texas
If you have a special needs individual in your family then you likely already know there are numerous challenges involved in caring for someone with special needs. Often, those challenges are financial. Unless you are operating with extremely deep pockets, there is a good chance that your special needs family member will need to depend on assistance from one or more of the federal and state assistance programs. Qualifying for those programs, however, can get tricky if your special needs loved … [Read more...] about First Party Special Needs Trust in Houston Texas
Planning for Your Special Needs Children
One of the biggest issues for parents of children with special needs is how to make sure that the children with special needs are taken care of after the parents pass away. Special needs children can be extremely expensive and many families have no choice but to spend almost all of their incomes to care for their children. This leaves the parents with the problem of knowing that they need to find a way to make sure that their special needs children have money after the parents pass away. Many … [Read more...] about Planning for Your Special Needs Children
OOH-DNR Orders in Texas: Part 3 of 3
Similar to estate planning testamentary formalities, you must comply with the statutory formalities required for DNR Orders. You must sign your DNR-OOH Order in front of at least two witnesses. If you are unable to sign the document and authorize someone else to sign it on your behalf, the third-party signing agent must do it in front of at least two witnesses. In some circumstances, you may also be able to sign in front of a notary if you cannot find two witnesses, but the notary may not be … [Read more...] about OOH-DNR Orders in Texas: Part 3 of 3
OOH-DNR Orders in Texas: Part 2 of 3
In the last blog, we discussed why you would want to draft an OOH-DNR or Out-of-Hospital Do-Not-Resuscitate Order as part of your estate planning documents. Now, we will cover what is necessary to create a valid order. First, you must be at least 18 years old to create a valid OOH-DNR Order and be mentally competent, which requires you to be of sound mind when signing and creating the document. At the very least, you should be able to understand that what you are signing and its implications. … [Read more...] about OOH-DNR Orders in Texas: Part 2 of 3
OOH-DNR Orders in Texas: Part 1 of 3
Also known as “Do Not Resuscitate” Orders, DNRs allow you to order doctors or other hospital personnel to withhold treatment in certain situations. Talk to our office about making a DNR Order a part of your estate planning documents. Texas recognizes In-Hospital DNRs and Out-of-Hospital DNRs. Although similar, Out-of-Hospital DNR Orders direct nonhospital staff, including emergency medical personnel. Typically, emergency medical personnel refer to paramedics and hospital emergency room … [Read more...] about OOH-DNR Orders in Texas: Part 1 of 3
Don’t Count on Social Security Disability
It seems like almost every year there is news that Social Security is going to run out of money. Most people have become immune to the stories and no longer pay attention. However, parents of children with special needs, need to pay attention this time. The Washington Post, hardly an alarmist newspaper, has reported that the Social Security Disability Trust fund will run out of cash in 2016. You need to make an estate plan for your children now. Special needs children require lifetime care and … [Read more...] about Don’t Count on Social Security Disability
What is Special Needs Planning?
Are you the parent of a special needs child or the caregiver of a family member with special needs? Are you concerned about their future should something happen to you leaving you incapacitated, or ever what might happen following your passing? These are not uncommon concerns, even for those who are not parents. Even if you are a loved one with a family member who has special needs, these concerns are ever-present. What is going to happen? What can we do to prepare? Special needs planning is a … [Read more...] about What is Special Needs Planning?
