Walnut Creek! Don’t Let Inheritance Destroy Government Benefits

Walnut Creek CA

17 November, 2021

12:58 AM

Description

If you have a family member with special needs, financial concerns are more than likely always top of mind. Family members or friends who want to help by gifting or leaving an inheritance to them may have good intentions. Unfortunately, many times there are unintended consequences that do more harm than good. For people who rely on certain needs-based government benefits, receiving an inheritance can rid them of their benefits. If that person has too many resources to push them over a specific cap or threshold financially, they will lose them. Listen Now! >> In this episode of Absolute Trust Talk Live, fellow Absolute Trust Counsel attorney Madison Gunn joins Kirsten to discuss different methods to resolve inheritance issues. Kirsten and Madison review and assess a handful of special needs estate planning scenarios highlighting what went wrong as well as how to save benefits. More important yet, this expert duo will share key strategies you can use to prevent future problematic inheritance challenges in your family. While the cases review hone in on special needs, the lessons shared can impact anybody who is doing an estate plan, which hint hint, should be everyone! So, find a quiet spot and get ready to strengthen your legacy. Big Three from Episode #076: If someone with special needs receives an unexpected inheritance that jeopardizes necessary benefits, there are solutions to help save them.If you are doing an estate plan, you should have what Kirsten calls a “just in case provision,” With special needs terms built in. You never know what could happen down the road.If you are the parent of a special needs person, set up a special needs trust and tell all your family members to plan accordingly if they intend to leave an inheritance or gift behind. Tune in Now! >> [Ad] If you need help planning for the future of a special needs family member or are ready to update your estate plan to better prepare for the future, we’re here to help. California estate law is our specialty. We can put the proper protections in place to ensure your loved ones are cared for properly no matter what life transitions or challenges face your family. Getting started today is easy. You can get in touch with our team by calling 925.943.2740 or sending an email to [email protected]. Or, if you’re ready, schedule your free discovery call and let’s discuss your unique needs.