Special Needs Planning
WHAT IS SPECIAL NEEDS PLANNING?
Objective
The goal of Special Needs Planning is to create an estate plan that will provide your special needs child, or dependant with financial stability, and the best quality of life possible when you are no longer able to take care of them.
Purpose
A special needs estate plan is designed to help secure a promising future for your special needs child by utilizing proper trust planning. Special Needs Trust provisions will ensure that your child will continue to receive current government, state, or local benefits, in addition to enjoying their deserved inheritance.
Normally, a special needs child who receives an inheritance from the parents or other family member will be disqualified from all financial needs based benefit programs.
The Strategy
We routinely navigate through the complex world of Special Needs planning and can work with you and your professional advisors to make sure proper special needs language is incorporated in your estate plan.
Special Needs Trust provisions for your child ensures that government benefits will be received, and the inheritance you leave will be used for your child’s supplemental needs to enrich their quality of life. The Special Needs Trust provision acts as a shelter for the inheritance, and the assets will not be counted against your child. Your child’s financial future will be secured by ensuring current government benefits and protecting their inheritance so that it can be used to enhance the quality of their lives.
Special Needs Planning Tips:
· Special Needs Trust
· Last Will and Testament with Special Needs provisions
· Proper funding of the Special Needs Trust with life insurance and/or other assets
· Tax advantaged premium payments
· Proper naming of Guardians and Trustees in your estate planning documents.
AXA Advisors and its affiliates do not provide tax or legal advice. Karr Barth Associates does not provide tax or leagal advice. The above is based on our general understanding of the subject matter discussed and is for informational purposes only. Please consult your tax and/or legal advisors regarding your particular circumstances.
AGE 50982 (08/09)
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Securities and investment advisory services offered through AXA Advisors, LLC (212-314-4600), member FINRA/SIPC. Annuity and insurance products offered through AXA Network, LLC and its insurance agency subsidiaries. AXA Network, LLC does business in California as AXA Network Insurance Agency of California, LLC and, in Utah, AXA Network Insurance Agency of Utah, LLC. AXA Advisors and its affiliates do not provide tax or legal advice. Individuals may transact business and/or respond to inquiries only in state(s) in which they are properly registered and/or licensed. The information in this web site is not investment or securities advice and does not constitute an offer. Link to AXA-Equitable.com © Emerald - All Rights Reserved - Please read our Privacy Policy |
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