Do you have a loved one with a disability and receiving benefits from the government? Before leaving a special needs person an inheritance, be sure to consider a special needs trust. Leaving money directly to a special needs person could put your loved one in a bad position.
In Wisconsin, as well as in other states, leaving money directly to a special needs beneficiary could jeopardize his or her ability to receive Supplement Security Income (SSI) and Medicaid benefits. A Special Needs Trust in Baraboo Wisconsin can allow your loved one to receive the benefit of your inheritance without jeopardizing his or her benefits.
When setting up a Special Needs Trust in Baraboo Wisconsin, you will determine who the Trustee of the Trust will be. This can be an individual or a professional such as a bank, CPA or attorney. The Trustee will manage the assets of the Trust on behalf of the special needs beneficiary. The Trustee will also make distributions on behalf of the special needs beneficiary.
If you have a loved one who is special needs and receiving benefits from the government, please contact Krueger Hernandez & Thompson SC for your Free consultation or visit KH-LAW.net to learn more about your estate planning options.