Arizona special needs plans should without exception contain a special needs trust. Put differently, if you have a child with special needs, you should absolutely prepare for the future by establishing a special needs trust for your child. The primary reason for this, of course, is that a special needs trust can help you set aside money for your child without jeopardizing your child’s eligibility for government benefits, such as ALTCS or SSI.
That special needs trusts can preserve eligibility for government benefits is perhaps the most obvious reason why Arizona special needs plans should include such a trust. It is not the only reason, however – special needs trusts also protect assets from creditors or seizure. Because funds in a special needs trust belong to the trust, and not to the trust beneficiary, creditors are unable to assert any claims on trust funds. As such, in the event that your child is ever sued in a lawsuit, or becomes indebted to a collector, the funds in the special needs trust will not be subject to a judgment.
If you have a child with special needs, it is important that you begin making Arizona special needs plans with a qualified special needs trust attorney. To schedule a consultation, please do not hesitate to contact JacksonWhite, by calling (480) 818-6912, or by filling out a consultation form.