Special Needs, Special Circumstances
Estate planning allows us to anticipate and arrange for the disposal of an estate during a person's lifetime. It attempts to eliminate uncertainties around probate administration and maximize the value of an estate by reducing taxes and other expenses.
For many individuals, the process is relatively simple. For others, it is extraordinarily complex.
At Brandow Law, it is our mission to lead individuals and families with disabilities through that estate planning process and to protect them regardless of future circumstances. We understand the task can be daunting. That's why we act as your trusted advisor and guide you every step of the way.
It all begins with a simple checklist of "must-haves":
1. A detailed list with the names and addresses of all of your bank accounts, any financial institutions, broker names and contact numbers.
2. A valid and up-to-date will wth the attorney's name and contact informmation attached. Do NOT keep that will in a safe deposit box as the bank may not allow access to your loved ones.
3. A valid Power of Attorney plus a living will and health care policy.
4. An appropriate beneficiary on any investment accounts. Be sure to consult with your estate planning professional before naming a beneficiary. A special needs loved one can be penalized if this is set up incorrectly.
5. An appropriate guardian for your children. Don't leave it to others.
6. A special needs trust for adults or children with disabilities as you do not want any benefits they receive to be penalized. Your attorney should advise you how and when this is necessary.
From there, we work with individual clients to develop custom plans best suited to their specific needs. While all special needs families have special circumstances, each has unique needs.