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Planning for a Special Needs Trust

One of the least discussed estate-planning issues is planning for a person with a disability. There is often discussion of ways to decrease taxes, probates, estates, but planning for life with a disability gets the short end of the stick.

Planning for special needs trusts requires a skilled attorney who understands the law beyond estate planning. If the client expects to put a relative with a disability into a Medicaid-funded home or day-care program, he or she should plan on an especially long wait. The attorney and client should plan now for any life-changing event that may occur in elder age. They should evaluate everything from the type of care expected to the possible caregiver. There are a number of ways that a special needs trusts can be arranged, so consult your attorney to determine how you can plan for life in the event of a disability.