Professional special needs planning will ensure that your loved ones' ability to access other types of assistance and money you have set aside for them is protected. Special needs trust not only ensure that the funds are used to pay for the care and necessities of your loved ones, but they also allow you to separate the funds from your loved ones' ownership so that your loved one may still be eligible for financial aid that may not be possible if the funds were passed as an inheritance. To learn more about special needs trust you can go through this link https://elderlawofaz.com/special-needs-planning.
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In Arizona, when it comes to financial security, planning for someone with special needs requires careful consideration. Although a Will was sufficient in the past to provide care instructions, times have changed. A comprehensive estate plan that focuses on special needs planning is essential to protect loved ones with special needs.
As we have already mentioned, the best way to provide for loved ones is to create a Special Needs Trust. This allows parents, grandparents, or other guardians to access the funds necessary to care for their loved ones. You can easily set up a special need trust by simply contacting us.
In Arizona, when setting up a trust, the following are important considerations:
* Who will be the guardian for your loved one?
* Who is the right Trustee to manage trust finances?
* Provide details on education, housing, and personal and emotional requirements.