A Special Needs Trust is used when you have a loved one in your life that will need some manner of assistance in the future. The amount of assistance can vary from protecting against basic financial vulnerabilities to providing full 24-hour care. If you have a Special Needs loved one in your life, regardless if their condition is mild or severe, you should consider the use of a Special Needs Trust in your planning.
What exactly does a Special Needs Trust accomplish?
- It will provide a management tool for long-term continuity.
- It will protect government benefits for the individual.
- It will provide the supplementary needs and quality of life items that government benefits do not provide.
- Most importantly, it helps you avoid future family conflicts in the management of dollars for your loved one.
Do you have more questions about Special Needs Trusts? A Golden Financial Services Advisor is always available to answer any planning questions or concerns you may have. Please note that we are financial advisors and not attorneys and we do not authorize the use of this information as a substitute for legal advice.
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