Help With Special Needs Planning In Colorado
When planning for the future, it is important to ensure that the requirements of an individual with special needs can be met even if parents or caregivers are not around to continue to provide for them. This can be accomplished through the establishment of a special needs trust. This type of trust is designed to contain funds and assets that can be used to take care of the needs of an individual with extensive medical or personal care needs.
If you wish to establish a special needs trust for a loved one, contact our Denver lawyers today. For your convenience, we have office locations in Denver, Arvada and Parker.
We Have Handled Special Needs Trusts For Years
At Olsen & Mahoney, LLP, our lawyers have years of experience handling the establishment of a number of types of trusts, including special needs trusts. We are committed to providing clients and their family members with information, education and guidance regarding options and how to best meet the future life requirements of a loved one with special needs.
A special needs trust can be set up for a child or adult who is disabled, physically or mentally, can benefit from the use of assets and property which is intended to be held for their future needs. For many clients, personal reasons govern their reasoning behind establishing a special needs trust such as the beneficiary being mentally or physically unable to handle his or her finances.
Other clients find that there are also financial advantages to utilizing a special needs trust to manage assets. Special needs trusts may prevent the disabled beneficiary from losing access to their government benefits in the future or protecting assets from consideration for the purpose of nursing home planning. When received, these benefits may be placed in the special needs trust for future use. Also, funding a special needs trust may be any compensation received from a personal injury or other legal settlement, particularly in cases where the disability may have been caused by another person’s negligence.
Let’s Talk About Your Situation
We understand our clients’ need for prompt and compassionate representation in special needs matters. To further discuss how we can help you establish the special needs trust you and your loved ones require, estate planning for special needs individuals or to discuss special needs financial planning in general, call 303-329-4670 to reach an attorney at the law office of Olsen & Mahoney, LLP today.