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 with the attorney's name and contact information 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 on 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.
One-Size Packages Do Not Reflect Individual Needs
Planning for individuals and families with disabilities requires unique strategies to achieve maximum independence while maintaining the governmental benefits that they are entitled to.
Planning includes the individual's personal needs and protecting the available resources or funds.
Schedule a trust and estate consultation with BrandowLaw to learn:
Why estate planning is needed for you and your family
How to protect your children and select the people you want to take care of them if need be
How proper planning can help you avoid probate and estate taxes
How to ensure that your business and assets go to the people you have chosen
How BrandowLaw can provide you with an estate plan tailored to your wishes
Other important areas of concern to explore:
Petition for Guardianship
How to secure a Supplemental Needs Trust while maintaining the resources and benefits available
How to protect your children and appoint those you want to select