Estate planning attorney Michele Ungvarsky reveals how a special needs trust can protect your disabled child – Las Cruces, NM

Leading estate planning attorney Michele Ungvarsky, founder at Estrada Law in Las Cruces, NM, has just revealed how a special needs trust can protect your disabled child. For more information please visit https://www.estradalawpc.com/

For more information please visit https://www.estradalawpc.com

Las Cruces NM, United States – April 28, 2018 /MM-REB/ —

In a recent interview, leading estate planning attorney Michele Ungvarsky, founder at Estrada Law in Las Cruces, NM, reveals how a special needs trust can protect your disabled child.

For more information please visit https://www.estradalawpc.com/

“There are several options in passing down your estate to a child such as placing an estate with close family members or leaving an inheritance, however, the best way to ensure long-term protection for your disabled child is by setting up a special needs trust.”

One reason is that special needs trusts prevent disabled children from losing publicly funded benefits such as supplemental security income or Medicaid.

When asked to elaborate, Ungvarsky commented, “Contrary to what many think, leaving an inheritance to someone reliant on government assistance can do more harm than good. An inheritance negatively impacts a child’s ability to qualify for certain programs.”

Included in these programs are services that your disabled child might need throughout their lifetime such as assisted or group housing, employment support, personal care aides, and assistance in transportation.

If government support is restricted in some way, Ungvarsky says, a special needs trust can provide financial security.

“In case your disabled child is no longer able to fully benefit from public assistance, the money held in this type of trust will act as a source of backup funds that can be made available to your child.”

Setting up a special needs trust can also ensure the fund’s money is well managed and works to the benefit of your disabled child in the long term.

“One of the main features about a special needs trust is that the assets held in the trust are not directly available to the child but must first be released by a trustee. In addition to dispensing the money, a trustee also acts as a child’s money manager to ensure the funds are spent as intended,” she said.

Ungvarsky added that setting up legalized special needs trusts to carry out your wishes can be tricky.

“It’s not enough to simply write down what you want done with your estate. The best thing to do is to contact a lawyer who specializes in estate planning to learn how to map out a legal plan that’s best for you and your disabled child,” she said.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Michele Ungvarsky
Organization: Estrada Law, P.C.
Address: 1340 Picacho Hills Dr, Las Cruces, NM 88007, USA
Phone: 575-556-2462

For more information, please visit https://www.estradalawpc.com/

Source: MM-REB

Release ID: 337827