I am the father of a child who has needed extraordinary amounts of medical care over the course of his two short years of life. He's had thousands of blood tests, a dozen or more surgeries of some type, over one hundred different doctors, therapists of all sorts, and we still do not have a diagnosis of any kind. Because of his medical needs, he qualifies for Medicaid, but if something happened to me and my wife and my son got a lump sum of cash, he may no longer qualify for public benefits. As such, we need a special needs trust. Here are the reasons you might need one too.
1. You have a child who gets public benefits. These benefits include everything from social security disability income to Medicaid and other public benefits based on his or her disability and capability of earning an income. If your child inherits from you a large sum of money, those public benefits may go away because of the size of the assets they would then own or the income available to them under a standard trust. Josh Bryant can help you walk through these benefits and analyze the impact of an inheritance could have on them.
2. Your child will require ongoing medical or therapeutic care. If your child will indefinitely need medical or therapeutic care for a condition such as down's syndrome, a mental handicap, cerebral palsy, and other similar disorders, it is very likely that you will need a special needs trust. Sometimes, public benefits will not pay for all of these needed services. Your special needs trust can provide the supplemental income for those needs without disturbing your child's eligibility for public benefits. Josh Bryant is familiar with the occupational, speech, physical, and other therapies available and can help you plan for your child's future in these therapies.
3. You want to speak into your child's independence after your incapacity or death. Most people want to help their special needs kids with as much independence as possible. Perhaps you want your special needs child to be able to live in their own house or apartment with assistance. In that case, your special needs trust can provide for that. Perhaps your child will need constant care. Your trust can provide for that to. There is no one size fits all approach to special needs trust planning. Josh Bryant understands that and helps clients walk through their child's individual needs even after the initial trust is drafted and the child's needs change as conditions worsen and improve.
4. You want to provide for your child's continued social, physical, intellectual, and spiritual development. Special needs parents want their children to live as much of a normal life as possible. Josh Bryant drafts special needs trusts that provide for the child to engage in appropriate sporting events, school, social clubs, cultural and artistic activities, and spiritual worship services. Providing for these needs is outside the purview of the government benefits your child will have, and as such require special planning to prepare for.
5. You want a professional to manage your child's medical and therapeutic care while others manage your child's social, physical, intellectual, and spiritual development. Many of the special needs trusts that Josh Bryant creates for clients include a provision requiring the hiring of a care advocate. A care advocate can be an attorney like Josh Bryant or a social worker, care management agency, or registered nurse with specialized knowledge in public benefits for disabled and special needs individuals. This area of law is so complicated that asking someone to be a guardian of your special needs child may seem like too much for the guardian. As such, having both an advocate and a guardian can provide the best for your child.
If your parents are ailing and aging, they may qualify for public benefits as well and could benefit from a special needs trust. This is all part of a comprehensive plan that Josh Bryant can help implement to preserve wealth. For more information, call Josh Bryant at (866)597-5621.
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I follow Christ. I have a beautiful wife Megan and three wonderful children, Harrisen, Rebekah, and Carter. I have an M.Div. from Liberty Baptist Theological Seminary, am licensed to practice law in several state and federal courts, and live in Rogers, Arkansas. I write a blog and produce a podcast. And I do it all that others may know Christ.