Leaving a Legacy to a Special Needs Child
Peyton Manning is leaving a legacy behind. One legacy involves last night’s victory against the Panthers, and the other involves his net worth. Peyton is estimated to be worth approximately $191 million dollars. So where does this leave his family with regard to estate planning?
Do You Have a Disabled Child? Things You Should Know
One of the first questions to ask a client is whether they have children. If they answer in the affirmative, the next immediate question should be, “Do they have special needs and/or are they disabled?” It is of the utmost importance to plan in advance when a couple has a child with special needs and/or is a disabled child. It is far too often that someone comes into my office and says, “My disabled child is the sole beneficiary of my Trust” and when asked if the trust is to be distributed outright to that child, the answer is “yes of course – is there another option?” After I explain to the couple that if in fact their child was to receive a distribution outright, all governmental benefits would cease, in the event they were receiving them. Their first reaction is shock: “I would never want that. How do we avoid this?” I then tell them of all the necessary legal work that needs to take place (which usually could have been avoided if proper planning took place).
Consult With a Boca Raton Estate Planning Attorney
Don’t allow for this situation to happen to you. It causes unnecessary stress and is preventable when dealing with a special needs attorney. Contact SAMUELS WOOD PLLC at 561-517-9045 for a free, initial consultation so that we can discuss what steps need to be taken in order to protect your child and your legacy.