Estate planning can be complex when we are caring for a family member with special needs. Our primary concern when creating this plan is to select a guardian who will care for our family member on a day to day basis. Then we need to enlist the help of a financial professional who will invest the money from the estate and ensure the distributions will not disqualify our family member from receiving government benefits.
While we may select a family member to serve as the guardian, we should use caution before naming them as the beneficiary of our estate. In many cases inheritances benefiting individuals with special needs are left to
Special Needs Trusts have been designed specifically to help families of individuals with physical or mental disabilities. Under these trusts, the beneficiaries are able to hold assets without disqualifying them from Social Security Income (SSI) and Medicaid benefits. Like other trusts, we must pick a trustee to make sure that our wishes are carried out according to our plan.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, an independent, registered broker/dealer. Securities offered through Raymond James Financial Services are :
This site is published for residents of the United States only. Raymond James' Financial Advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability. Raymond James Financial Services, Inc. Privacy Notice.
Isabella Bank and Isabella Bank Investment & Trust Services is independent of Raymond James Financial Services, Inc. Trust Services are not affiliated with Raymond James Financial Services, Inc.
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