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Guardianship
What is Guardianship?
Some individuals require legal protection by the appointment of a guardian to protect them from harm. The need for a guardian often occurs when an individual is born with a psychological disorder (such as severe autism or Down syndrome), has suffered from a traumatic accident (such as a stroke), or has been diagnosed with an onset condition (such as dementia), rendering them incapacitated. If the incapacitated person has not planned properly by executing directives, such as a health care proxy or power of attorney, then they often are left with no one in place with the legal authority to assist them.
A guardianship is a legal arrangement that places an individual under the supervision and/or care of a guardian. The guardian provides for the incapacitated person and accounts to the court with regards to their actions. A guardian is typically a family member‚ friend‚ or fiduciary appointed by the court for an individual who can no longer make safe and sound decisions about their own person or property or a person who is prone to fraud or undue external influence.
While a guardianship does protect an individual, one must engage in great consideration and investigation prior to its appointment, as it can significantly impinge upon one's rights.
Special Needs Planning
If you have a child or an individual in your life who has special needs‚ you need to plan for their future before you may no longer be able to provide them with care and support due to illness or death.
While you might provide for them in your will or trust, such a bequest can render them ineligible for services that they may currently be receiving, such as Supplemental Security Income (SSI) and/or Medicaid. Fortunately‚ there are rules in place that allow assets to be passed or given to a disabled individual by holding them in a trust, called a “Special Needs” or “Supplemental Needs” Trust. Establishing such a trust enables one to earmark assets a disabled beneficiary needs without running the risk of rendering them ineligible for need-based services.
Our firm can help you set up a Supplemental Needs Trust and navigate through the path of governmental benefits to maintain the disabled individual's government benefit eligibility while providing them with assets to fulfill their needs.