Itasca Special Needs Trusts Attorneys
Special Needs Trusts Lawyers Serving DuPage County and Throughout Illinois
When you are charged with the care of an adult or child who is disabled, it is important to work with an experienced attorney to provide for his or her future needs. One way to do this is by establishing a special needs trust. At Knauf Law (previously Pankau Law), our attorneys are skilled in creating special needs trusts that address the needs of our clients’ loved ones and endure over time.
Estate Planning for Special Needs Loved Ones
Caring for a disabled loved one can be extremely costly over a lifetime. Most families cannot afford the cost independently and depend on government benefits. If someone who depends on government benefits is given or inherits a large sum of money, however, those benefits can be reduced or eliminated. A special needs trust set up during the estate planning process can be used legally to provide added necessities and items of clothing and comfort for the beneficiary without compromising the beneficiary’s eligibility to receive government aid.
Government benefits may provide for the essentials for a disabled person, but other things that contribute to the individual’s quality of life and self-esteem may be out of reach. With a special needs trust, you can make sure your disabled loved one has access to those things that contribute to his or her comfort and happiness such as:
- Electronic equipment;
- Classes and activities;
- Entertainment; and
- Special food items.
Special needs trust funds can also be used to cover insurance premiums for life insurance for the beneficiary and to pay for medical and dental expenses that are not covered by government benefits. If you are the parent of a disabled child, you can incorporate a special needs trust into your estate plan to give you the peace of mind that your child will be taken care of when you are gone without losing their right to government benefits.
If you are interested in creating a special needs trust for your disabled loved one, contact us at 630-875-0500 to schedule a free consultation and discuss your options. Our attorneys will explain if and how a special needs trust can help provide for your loved one. Our office is located in Itasca, IL and we work with clients throughout the Chicago area, including Kane County, DuPage County and Cook County.