If you do not plan and execute a Will or other device, your estate will go to your heirs at law, which may not be how you intend it, particularly if you have remarried or have had children in multiple marriages.
Further, if you have a child with special needs, they cannot hold title to assets in excess of $2,000 or they will be disqualified from government benefits. This is why a special needs trust to hold those assets is a must. Further, an adult child with special needs may be supported by child support payments even after reaching adulthood, but these payments will be counted as income to the child unless handled properly. Such income can disqualify the child for benefits or significantly reduce those benefits unless they are paid into a different kinds of special needs trust. Let us explain these nuances to you.
Call (214) 296-2025 right away to find out how easy it is to plan for your future with attorney Macy Melton.
There's no optimal time to start working on wills and trusts. The sooner, the better as one never knows what the future holds. When you draft a will, you can: