Do you have a plan in place for the future care of a loved one with special needs? It’s vital to establish a plan that includes legal strategies like a special needs trust or guardianship, to make sure that your loved one in Missouri or Arkansas is taken care of if you are no longer able to do so.
Missouri or Arkansas Special Needs Planning with an Experienced Special Needs Planning Lawyer
You may not have realized that Missouri and Arkansas special needs planning is something you need to consider for your family. However, you aren’t alone in your desire to bulletproof your children’s inheritance against creditors and predators after you’re gone. And a catastrophic illness can wipe out a child’s inheritance overnight. If your child has, or should develop, needs in the future (such as mental or physical disabilities), you MUST plan with a special needs planning attorney. Your plan not only addresses the transfer of assets to your family member with special needs upon your death but also establishes guardianship for their care and support throughout their lifetime.
Establishing a Supplemental Needs Trust in Missouri or Arkansas
It would help if you created a supplemental needs trust, sometimes called a special needs trust, as an asset-protection strategy in Joplin or Springfield, Missouri, as well as areas surrounding Bentonville, Arkansas. Establishing a plan with a special needs planning attorney can ensure that government-benefit eligibility, including Supplemental Security Income (SSI), Social Security, and Medicaid, are preserved while at the same time allowing your child’s inheritance to be used to improve their quality of life and meet other supplemental needs. The Law Firm of Christopher W. Dumm in Joplin and Springfield, MO, and Bentonville, AR has a special needs planning lawyer to assist you in implementing a plan now or adding to your current estate planning documents as a precautionary measure.
Appointing Guardianship for Special Needs in Joplin and Springfield, MO, Bentonville, Arkansas and Surrounding Areas
In the states of Missouri and Arkansas, a guardian can be anyone over the age of 18, regardless of any limitations or disabilities. This appointed person has the legal right to make decisions on behalf of your loved one with special needs. A special needs trust can determine a guardian to control the trust and assist your family member with special needs in Missouri or Arkansas. The guardian can oversee the management of the individual’s assets, assist with medical treatment decisions, or help with financial and medical decisions. Our Arkansas law firm and Joplin, MO, and Springfield, MO law firms understand the legal nuances in both states.
The Law Firm of Christopher W. Dumm helps you and your loved ones understand estate planning, asset protection, probate and estate administration, elder law, Medicaid planning, special needs planning, tax planning, and business planning. We welcome you to contact our Joplin and Springfield, Missouri offices, as well as our Bentonville, AR office to learn more about how we can help you with special needs planning.