Preservation | Family Wealth Protection & Planning

Sometimes leaving an inheritance to a loved one who has a disability can do more harm than good. Many public benefits programs have asset limitations for beneficiaries to qualify to receive assistance. If a well-intentioned relative leaves funds to a beneficiary who has a disability without having the proper safeguards in place, the beneficiary may be required to pay penalties or become ineligible to receive public benefits. There are options available to provide for such beneficiaries without compromising their eligibility for public benefits.

A growing problem in estate planning is how to provide for special needs individuals (those who may be eligible for government benefits and programs due to a disability or otherwise) without disqualifying them from government benefits and programs they may need now or in the future. As most government benefits have a limit on the amount of assets an individual may have to qualify for such benefits, leaving assets to special needs individuals outright or in a standard trust may disqualify them from receiving those benefits.