“Adam is an exceptional attorney. His deep knowledge of the law, combined with his dedication and personal approach, make all the difference. I highly recommend his firm!”
Caring for a person with special needs is a lifetime commitment, one that you embrace every day. But what happens when you’re gone? That’s a question that likely keeps you up at night.
As New York special needs planning attorneys, we understand this deep concern. Our role is to help you put legal safeguards in place, ensuring your loved one’s care continues both during your lifetime and after you’re gone.
We’ll work with you to create a comprehensive plan that protects your loved one’s benefits and quality of life. From Supplemental Needs Trusts to guardianship arrangements, we’ll explore all options to secure their future. This isn’t just about planning for your absence – it’s about enabling them to live a full life now and in the years to come. Let’s work together to turn your concern into confidence.
Special Needs Planning is a comprehensive approach to securing the future of a person with disabilities. It’s about creating a framework that supports their quality of life, both now and in the years to come.
This type of planning involves several key elements:
The goal is to create a safety net that allows your family member with special needs to live as fully and independently as possible, while ensuring they have the support they need throughout their lifetime. It’s not just about planning for your absence – it’s about enhancing their life now and securing their future.
One of the most powerful tools in special needs planning is the Supplemental Needs Trust.
Attorneys design these tools to hold and manage assets for the benefit of your loved one without jeopardizing their eligibility for government benefits like Supplemental Security Income (SSI) and Medicaid.
There are two main types of Supplemental Needs Trusts:
At Katz Law Firm, we can help you determine which type of trust is right for your situation and guide you through the process of setting it up.
In addition to Supplemental Needs Trusts, Achieving a Better Life Experience, or ABLE accounts can be a valuable tool in your special needs planning strategy.
These tax-advantaged savings accounts allow individuals with disabilities to save money without risking their eligibility for government benefits.
To qualify, the onset of the individual’s disability must have occurred before age 26.
While ABLE accounts have contribution limits and other restrictions, they can complement a Supplemental Needs Trust.
Our special needs planning attorneys can help you understand how these two tools work together to provide your loved one with the best possible financial foundation.
Government benefits like SSI, Medicaid, and Social Security Disability play an important role in supporting individuals with special needs.
However, the rules and regulations surrounding these benefits are complex and ever-changing. Our lawyers understand how to maintain eligibility for these programs, ensuring your loved one always receives the care and resources needed.
Medicaid is another vital resource for many individuals with special needs, particularly when it comes to funding long-term disability care.
However, qualifying for Medicaid can be challenging, as strict income and asset limits exist.
Our special needs planning attorney can help you explore strategies for preserving Medicaid eligibility. With proper planning and guidance, you can ensure your loved one can access the high-quality care they deserve.
In some cases, individuals with special needs may require a guardian or conservator to make important decisions on their behalf.
These proceedings involve the court appointing a responsible person to manage an individual’s personal or financial affairs.
Establishing guardianship or conservatorship in New York is highly complex, requiring a thorough understanding of the legal requirements and procedures involved. Our special needs planning law firm can help you with this process, advise you about options, and protect your loved one’s interests.
We’re not just lawyers – we’re advocates for families like yours. Our team has dedicated years to mastering the intricacies of special needs planning in New York. We understand the legal landscape, but more importantly, we understand your concerns.
We take the time to listen. Every family’s situation is unique, and we tailor our approach to fit your specific needs and goals. Whether you’re just starting to think about the future or need to update an existing plan, we’re here to guide you.
Our goal isn’t just to create legal documents. It’s to give you peace of mind. We’ll work with you to craft a plan that protects your loved one’s benefits, provides for their care, and preserves their quality of life. With us, you’re not just getting legal services – you’re gaining a partner in planning for your family’s future.
You don’t have to plan for the future of a loved one with special needs alone.
Work with our special needs planning team and allow us to create a comprehensive plan that gives your loved one the resources, care, and support he or she needs to thrive.
Contact The Katz Law Firm today to schedule a consultation, and together, we can work through the complex world of special needs planning and create a brighter future for that particular person in need.
As Your Life Changes, So Should Your Estate Plan. Our Flexible Solutions Adapt To Your Unique Needs, Providing Ongoing Peace Of Mind.
Crafting a lasting legacy that reflects your values and aspirations starts with a purpose-driven plan.
Start your journey with a personal consultation to discuss your estate planning needs and questions.
Define your legacy with clear goals for asset distribution, family protection, and wealth preservation.
Craft a tailored estate plan that aligns with your objectives and provides legal protection for your assets.
Finalize a secure, comprehensive plan for future certainty and peace of mind for you and your loved ones.
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A supplemental needs trust is a legal tool that can hold assets for a person with disabilities without affecting their eligibility for government benefits. It allows you to provide financial support for your loved one’s care, while ensuring they maintain access to crucial programs like Medicaid and SSI. The trust is managed by a trustee who makes distributions for the benefit of your loved one.
While not legally required, working with an experienced attorney ensures your plan is comprehensive and complies with state and federal laws. A lawyer can help you understand benefit regulations, tax implications, and future care planning. They can also help you avoid common pitfalls that could unintentionally jeopardize your loved one’s benefits or care.
Proper planning helps preserve eligibility for benefits like Medicaid and SSI while providing additional resources for your loved one’s care. Without careful planning, well-intentioned financial gifts or inheritances could disqualify your loved one from these essential benefits. A good plan creates a safety net of private funds that supplement, rather than replace, government assistance.
It’s best to start as early as possible, but it’s never too late. Life changes or new diagnoses are also good times to create or update a plan. Early planning gives you more options and time to build resources. However, even if your loved one is already an adult, it’s not too late to put protections in place.
They can, but it may affect their eligibility for benefits. We can help you structure assets to maintain benefit eligibility. For example, certain assets like a primary residence or a car often don’t count against benefit eligibility. Other assets might be better held in a special needs trust or ABLE account to preserve benefits.
Without a plan, your loved one might lose essential benefits or lack necessary resources for their care after you’re gone. They could also be vulnerable to financial exploitation or unable to make important decisions for themselves. A comprehensive plan ensures continuity of care, protects assets, and gives you peace of mind about your loved one’s future.
Our lead estate planning attorney, Adam Katz, is passionate about helping families and individuals navigate the complex world of estate planning with compassion and a personal touch.
With more than 17 years of experience in estate planning and probate law, Adam Katz has helped countless clients achieve peace of mind by crafting comprehensive plans tailored to their unique needs and goals. He takes the time to listen to your concerns, explain your options in plain language, and guide you through every step of the process.
Adam Katz believes that estate planning should be an empowering experience, not a daunting one. He is committed to building long- lasting relationships with clients, ensuring that your plan evolves as your life changes. Whether you’re just starting your estate planning journey or need to update an existing plan, Adam Katz is here to provide the knowledgeable guidance and support you deserve.
At Katz Law Firm, we understand that estate planning is not just about drafting documents; it’s about building relationships and creating a lasting impact.
