With a desire to be fair to all of their children, parents will often plan to divide their estate among them, leaving an equal portion to each.
“But if one child has special needs, an equal division of assets can result in the loss of that child’s government benefits, such as Social Security Income and Medicaid,” says Bernie Garrah, a financial adviser and Special Care Planner at Skylight Financial Group. “Instead, parents should consider setting up a supplemental needs trust.”
Read more here: How a supplemental needs trust can ensure lifelong care for your child – Bernie Garrah, Skylight Financial Group.
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