Special Needs Planning
Providing Security & Peace of Mind
Parents who have children with disabilities often encounter some of the most challenging planning needs, such as:
- How do you provide for the disabled child in your will or trust without causing the child to lose vital public benefits?
- How do you make sure that funds for the disabled child are properly managed?
- How do you provide for the care of the disabled child after you are gone?
Parents often believe that it is necessary to cut the disabled child out of their estate plan, leaving nothing to the disabled child. This is often a mistake.
With proper planning, it is possible to provide for the disabled child using a “Special Needs Trust.” These trusts allow another individual or organization to manage the money for the child’s benefit while simultaneously ensuring that the child will not be disqualified for important public benefits, such as Medicaid, public housing, Supplemental Security Income (SSI), or other programs. Federal law currently allows for a variety of Special Needs Trusts options, including so-called “third party” special needs trusts (typically created by the parent(s) for the child) and “self-settled” special needs trusts (created by the child for his or her own benefit, often in cases where the parent had died without proper planning). These trusts can also be stand-alone trusts or they can be “pooled” with other similar trusts to share costs of administration.
At Ryan L. Pry, P.C., we recognize that these concerns often weigh on family members for many years. Peace of mind can be hard to find when planning for the potential future needs of a disabled child. Over the years, attorney Ryan L. Pry has successfully created and administered a variety of Special Needs Trusts for clients, tailoring each to the specific needs and circumstances of the client’s situation. And as a member of both the National Academy of Elder Law Attorneys (NAELA) and the Virginia Academy of Elder Law Attorneys (VAELA), Ryan has access to cutting-edge planning tools designed for Special Needs Planning. We strive to provide security and peace of mind, so that families can look to the future with confidence knowing that the disabled child will be provided for and protected.