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There are many types of trusts, and depending on your goals or needs, the cost of setting up a trust You can specify how your assets are managed and distributed, and you can even serve as the trustee if For example, you can create a trust to provide for a family member who requires special needs planning Misconception 9: You Need a Lot of Money to Create a Trust While some trusts require significant assets Managing assets for a minor child Providing for a pet Trusts can be customized to meet your unique needs

There are specific items and details that, for various reasons, you should NEVER put in your will. 8 Specific Details on Small Personal Items While your will addresses significant assets, detailing every Whether you are seeking to develop and implement strategic asset protection, establish a special needs planning and long-term care planning, our team is adept at tailoring solutions that cater to your unique needs At Your Legacy Legal Care, we are here to provide the guidance and expertise you need every step of the

This may cause a hurdle for some individuals who need to know any medical history of their loved one Whether it is for a parent who has been diagnosed with Dementia, an adult disabled child with special needs, or if you have become incapacitated due to a car accident or other tragic event, guardianship increase, but it will also delay the time it takes to have someone appointed to make any decisions that need If the answer is no, then you need to speak to an estate planning attorney.

A good estate planning attorney will tell you that you likely need more than just a will to ensure your Your will may not be enough to adequately provide for all these assets, depending on your specific needs needs planning Long-term care planning Family law Children’s Safeguard Program ™ We also practice asset Your Houston Estate Plan Might Need a Trust Trusts form a vast portion of estate planning. As we age, some of us will eventually need to consider moving into a nursing home or assisted living

Legacy Legal Care , we have helped hundreds of Texas families set up trusts tailored to their unique needs Only your chosen beneficiaries and the trustee need to know the details. This avoids the need for a court-appointed conservatorship over your assets. This flexibility allows you to modify your plans when needed rather than being stuck with an outdated Special Needs Trust : Holds assets to provide for disabled beneficiaries without affecting government

Some individuals may prefer a living Will in order to avoid probate (the need to establish the validity Hiring an estate-planning attorney allows for you to sit down with a professional, share your specific story, wants, and needs, and seek advice from an expert who has seen just about every type of Will there These include: Multi-million dollar estates Disabled Children/Individuals with Special Needs Who May Require a Special Needs Trust Blended families Properties in foreign countries Complex family businesses

However, in order to qualify for Medicaid, special needs children cannot have more than $2,000 in their Another approach that some parents take is to disinherit their special needs child and instead give the Special Needs Trusts The good news for parents with children with a disability is that there are actually course, you will need to make financial preparations to make certain the trust has been funded. Here at Your Legacy Legal Care, we specialize in helping families find the best legal solution needed

The good news is, there are programs in place that are designed specifically with special needs adults of the need for guardianship. Special needs planning can seem daunting. you through every step of the process, so your loved one can get the legal protection they need. Making sure your special-needs loved one has an appointed guardian can guarantee their well-being long

A child or adult with special physical or psychological needs . When a parent needs home-health-care attention. The parent may want to reward them with a special share of the estate distribution. solution is making them the beneficiary of a life insurance policy, payable to the heirs who have earned special To preserve harmony in the family, no one but the beneficiary of that policy needs to know, and if wishes

Usually when someone dies, the person’s family may need to initiate probate. When the deceased had all of the property in joint tenancy with a spouse, probate isn’t needed.

A Special Needs Trust can also be set up, but these are only for people under age 65. Since even a small amount of cash assets can disqualify individuals with special needs from the care A Trust is the best way to ensure your loved one with special needs keeps their care and assistance while Unlike a Special Needs Trust, a Pooled Trust account can be created for a person with disabilities of needs community and understand the care and compassion needed to look after your special needs loved

Kim Hegwood recently was a special guest on the Parent Projects Podcast to discuss the crucial topic Click the photo below or click here to listen to our special episode and subscribe to the Parent Projects If you find yourself being appointed as someone’s agent for power of attorney and need guidance, contact