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  • Posted February 16, 2023

The Benefits of Using a Trust for Disabled Heirs

Creating a trust for disabled heirs is incredibly important in planning your estate. A trust can ensure that your disabled heir will be taken care of financially while providing legal protection and making the process easier. Let’s look at some benefits of using a trust for disabled heirs. We provide financial planning services for neurodiverse families.

Make Sure They’re Taken Care Of 

The primary benefit of setting up a trust for your disabled heir is that you can ensure they will be taken care of financially and emotionally when you can no longer do so. You can name another person—a trustee—to manage the money and ensure it goes where it needs to go.

That way, you can rest assured that your disabled heir will have access to the funds they need, even if you’re not around to support them. 

Make Things Easy 

In addition to providing financial security, setting up a trust for your disabled heir can help simplify managing their finances after you’re gone. A trust can help your heir avoid the complex probate process.

Probate could otherwise tie up their funds for years or even decades after your passing. This makes things much easier on both you and your heirs as they don't have to worry about where the money will come from or how long it will take to get access to it. 

Legal Security 

Finally, setting up a trust for a disabled heir provides an extra layer of legal protection in case something happens to them while they are still alive. If they are ever incapacitated or unable to manage their affairs due to illness or injury, having trust in place gives them peace of mind knowing that their finances are secure and someone else is there to ensure all their needs are met. Our special needs trust planning services can help your family be protected for the future.

Setting up a trust for your disabled heirs is one of the best ways to ensure that they will be taken care of financially and legally once you are gone. It provides security, simplifies managing their finances, and ensures that someone else looks out for them if something ever happens. If you’re looking for ways to ensure your family is provided for after you pass away, setting up a trust may be the right solution for you!

Did you enjoy reading this article? Here’s more to read. Assets to Leave Behind to Your Disabled Children

Contact Planning Across the Spectrum for neurodiverse certified financial planning services.