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Why do people in Texas choose a special needs trust?

A will and other estate planning tools can help people ensure that their estate is divided according to their wishes. For many people, tools such as a trust can help provide greater flexibility in regard to asset distribution. In some situations in Texas, a special needs trust may be necessary to ensure that a person who is unable to make decisions or care for him or herself receives life-long care.

When it comes to a family member with special needs, a special needs trust could be an effective tool. Such a trust may be especially useful since a person who has over $2,000 in assets may not qualify for government assistance. Fortunately, a trust can potentially help a person with special needs without interfering with his or her benefits.

Another important tool in regard to a person with special needs is a guardianship or the creation of a power of attorney. One woman tells the story of her brother. Although he is unable to make decisions for himself, some of his art was sold. Despite his condition, his mother was unable to manage his assets until she was able to secure a guardianship.

Each person's estate plan likely has some unique aspect to it. A special needs trust can help ensure that certain family members receive the appropriate care for the rest of their life without losing government benefits. In some instances, such a trust could be used to pay back benefits; therefore, many people in Texas seek the guidance of an experienced estate planning attorney to examine their options and choose the best one for the individual circumstances.

Source: Forbes, "Lessons I Learned From Having A Brother With Special Needs", Tania Brown, Nov. 6, 2016

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