If you have a beneficiary with special needs, you may require a special type of planning for inherited assets or life insurance proceeds.
Special Needs Planning

Careful planning should be put in place when planning for beneficiaries with disabilities. As the parent of a child with special needs, you know
Children with Special Needs require a Special Needs Trust
that your child may have financial and other support needs that differ markedly from traditional planning strategies for children. The Arbor Law Firm can help you establish a Special Needs Trust (also sometimes referred to as a Supplemental Needs Trust) to protect inherited assets for your beneficiary, while also protecting any federal, state or local benefits or services provided to the individual child.

A Special Needs Trust houses assets on behalf of a beneficiary with disabilities, and has specific, federally-mandated language included to direct only discretionary distributions to the beneficiary or to third-parties on behalf of the beneficiary. When a parent, grandparent, or guardian creates an SNT for the benefit of a beneficiary, the beneficiary remains otherwise eligible to receive federal, state, and local benefits, such as medical care and insurance, housing, or professional training or assistance. When drafted properly, an SNT ensures that the beneficiary can maintain a stable quality of life, while protecting federal benefits. Special Needs Trusts are allowed under federal law, but must be specifically worded to avoid unintended consequences.

Children with special needs require specialized estate planning.
This type of specific plan can protect inherited assets, and ensure that the beneficiary continues to have access to funds for a higher quality of life; these funds can be used for items not covered by government programs, such as dental care, clothing, and vacations and entertainment. Arbor can assist you with the creation of a Special Needs Trust and associated documents, and can assist with planning for the transition of care through sample Letters of Intent and checklists for medical and daily care.
Arbor can assist clients with development of a Special Needs Trust as part of a comprehensive estate plan, for clients throughout Northern Virginia.