Special Needs Planning: A Lifetime Of Care For Your Loved One

When you’re caring for a child with special needs, the journey doesn’t get any simpler as they grow into adulthood. You want to provide financial support without risking their access to essential public assistance programs like Supplemental Security Income (SSI) and Medi-Cal. The same is true if you’re a friend or relative looking to provide gifts or bequests to a loved one with special needs. The right tools can ensure that your loved one continues to live a life of comfort long after you’re gone.

At the Law Offices of Berge & Berge, we understand the complex feelings and challenges that come with navigating this territory. Our lawyers in San Jose provide compassionate representation to help clients in California create estate plans that reflect their goals and values, including supporting a loved one with disabilities. Special needs planning is a big part of what we do. We understand how to leverage the right legal and financial strategies to safeguard your loved one’s future while maintaining their eligibility for vital public benefits.

Tools For Special Needs Planning

Special needs planning involves various tools, predominantly trusts. Here’s a brief look at different types of special needs trusts:

• First-party special needs trusts: These trusts are funded with the beneficiary’s own assets – for example, inheritances or settlement money.
• Third-party trusts: These are funded by someone other than the beneficiary, often parents or relatives.
• Pooled trusts: These trusts allow multiple beneficiaries to pool resources for investment and management purposes. They’re typically managed by nonprofit organizations.

With strong backgrounds in finance – including a lead attorney who is also a Certified Public Accountant – our team is well-positioned to help you explore these trusts and choose the right path for you.

Gift Planning In Your Estate Plan

Incorporating gifts into your estate plan is another way to strategically support your loved ones. Here are some possibilities:

• Gifts to minors: Contributions to a minor’s future, often through a custodial account or trust, can be used for education and other specified needs.
• Gifts to people with disabilities: As discussed above, there are various ways to pursue thoughtful giving that won’t compromise the recipient’s access to public assistance programs.
• Gifts to spendthrifts: There are ways to protect your assets from being wasted or mismanaged through a trust that provides structured financial support under specific conditions.

Led by a board-certified specialist in estate planning, trust and probate law,* our lawyers understand how to implement these and other gifting strategies tailored to your vision. With an advanced degree in tax law, our lead attorney can help you minimize estate and gift taxes to preserve the full value of your generosity.

*Credentialed through the California Board of Legal Specialization