With family members who have special needs or who are aging, you need an experienced Marina del Rey special needs trusts lawyer who can advocate for your family and truly understands California disability protection and estate planning. The complex guidelines in these areas of law create hurdles that require the experience of an attorney from Cox Law Group, Inc.
At Cox Law Group, Inc., we have almost three decades of experience helping vulnerable Californians, and our certified paralegals focus on special needs trusts. When you need assistance setting up a private special needs trust, our team is here. We consider your family’s financial security while remaining in strict compliance with the Medi-Cal asset limit rules and the expanded age limits of the ABLE Act.
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Throughout California, more than four million residents have a disability. Across the country, about 1.4 million children under 17 years old live with, or are at high risk for, chronic healthcare conditions. If you care for a family member with special needs, planning for your future is important for theirs.
A special needs trust (SNT) can preserve assets for your loved one’s long-term care and support. It can also help protect their eligibility for means-tested government assistance programs. Since life is unpredictable, proactive estate planning is crucial. Setting up a special needs trust is an important tool for your family to help mitigate some of this uncertainty.
California recognizes two kinds of special needs trusts, each based on who originally sets up the trust. Deciding which type of SNT to create depends on your family’s specific financial situation. An attorney can discuss the merits of the following SNTs:
Deciding which type of SNT to select requires insight into your family’s financial situation. The knowledgeable team at Cox Law Group, Inc. can discuss your situation and help you determine the better option. That way, we can explore your long-term goals and analyze your assets in order to build a viable framework to protect your family’s future with an enforceable SNT.
If you are trying to set up an SNT yourself, it can be overwhelming. Thankfully, you don’t have to try to do it alone. Instead, a skilled Marina del Rey special needs trusts attorney at our firm can explain the process and guide you through each stage.
Our firm has helped many families with their estate plans over the years. We have extensive experience with a wide variety of special needs trust cases, and we are highly knowledgeable regarding California’s SNT laws. We can discuss your financial situation and start protecting your assets and your family’s future with an SNT.
You should call a special needs trust lawyer as soon as possible in Marina del Rey, especially if you are dealing with an anticipated inheritance or gift, or if your loved one is about to receive a legal settlement.
A lawyer can also assist when a child with special needs transitions into adulthood, when you need to update an outdated estate plan, or when their primary caregiver or parent experiences a decline in health or receives a serious medical diagnosis.
The costs to hire a special needs trust lawyer in Marina del Rey vary; every lawyer sets their own fees. The exact costs depend on case-specific factors like the lawyer’s experience level, the amount of time they expect to spend on your case, and other unique factors specific to your situation. When you meet with a lawyer, you can ask about their anticipated costs so that there are not any financial surprises.
In general, a special needs trust cannot give cash directly to the beneficiary. This includes spending money, a cash allowance, ATM withdrawals, and sending money through apps like Zelle, Venmo, or PayPal. Also, it cannot pay for gift cards, money orders, or any items that would violate strict public benefit rules. This means that illegal goods or restricted items that violate federal safety regulations, like firearms, are prohibited.
While you are not required to hire an attorney to set up a special needs trust in California, most people find that an attorney saves them money in the long run. When you partner with an experienced attorney, they can help you avoid making costly mistakes that people often make when trying to set up SNTs themselves.
Attorneys help protect your hard-earned assets by setting up an SNT correctly the first time. Plus, they can answer any questions you have throughout the process.
To hire a special needs trusts lawyer and discuss your available SNT options, connect with Cox Law Group, Inc. We are here to help your family navigate through the complicated process of creating a valid SNT.
From Fisherman’s Village to the Silver Strand, our Marina del Rey team can provide the support you deserve for your family member with special needs. Contact us to schedule an initial meeting. Hablamos español.
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