LaGrange: 1023 W 55th St #200, LaGrange, IL 60525 | Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
LaGrange: 1023 W 55th St #200, LaGrange, IL 60525
Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
LaGrange: 1023 W 55th St #200, LaGrange, IL 60525
Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
Planning for Families With Special Needs Adults & Minor Children
Planning for Families With Special Needs Adults & Minor Children in Illinois
Planning for the future of a child or adult with special needs can be a daunting task, but it’s important to remember that you’re not alone. At Wilson & Wilson Estate Planning and Elder Law, our LaGrange and Deerfield estate planning attorneys have the experience and expertise to help you develop a plan that will protect your loved one’s well-being and financial security for years to come.
We understand that every child is different, and we’ll work with you to create a plan that’s tailored to your family’s specific needs. We can help you with a variety of tasks, including:
- Creating a special needs trust. A special needs trust is a legal document that can help you protect your loved one’s assets and ensure they have access to the care and support they need, even if they receive government benefits.
- Establishing guardianship in Illinois. If the time comes that you may not be able to care for your loved one yourself, you’ll need to designate a guardian who can step in and be responsible for their well-being in your place. We’ll help you choose the right guardian and ensure that they have the legal authority they need to make decisions on your child’s behalf.
- Planning for your child’s financial future. We’ll help you develop strategies to save for your child’s education, housing, and other expenses. We can also help you qualify for government benefits that can help cover the cost of your child’s care.
We know planning for the future of a minor child or adult with special needs can be a difficult process, but we’re here to support you every step of the way.
Protecting Your Child’s or Loved One’s Government Benefits and Providing Supplemental Funds for Their Care with a Special Needs Trust
Government benefits are often insufficient to meet the needs of children with special needs. However, a minor child or adult with special needs who inherits money from their parent’s estate may lose the right to receive government benefits. An Illinois estate planning lawyer can help you set up a special needs trust to prevent this from happening.
Special needs trusts are legal arrangements that allow parents to set aside money for their child’s benefit without affecting their eligibility for government benefits. The trust money can be used to pay for expenses that aren’t covered by government benefits, such as medical care, education, and recreation.
There are three different types of special needs trusts:
- Third-party special needs trusts. These trusts are created by someone other than the child with special needs, such as a parent or grandparent. Third-party trusts are the most common type of special needs trust.
- Self-settled special needs trusts. These trusts are funded with the child’s own assets. Self-settled trusts are only available for children under the age of 65.
- Pooled special needs trusts. These trusts are created for the benefit of multiple children with special needs. Pooled trusts are managed by a nonprofit organization.
If you’re a LaGrange or Deerfield area parent of a child with special needs, you should consider creating a special needs trust. A special needs trust can help protect your child’s financial future and ensure they have the resources they need to live a happy and fulfilling life.
Here are some of the benefits of creating a special needs trust:
- Protect your loved one’s eligibility for government benefits. Government benefits can provide essential financial support for children and adults with special needs. A special needs trust can help your loved one keep their government benefits, even if they inherit money from you or another family member.
- Provide supplemental funds for your loved one’s care. Government benefits often do not cover all the expenses associated with caring for a child or adult with special needs. A special needs trust can provide additional financial support to help cover these costs.
- Preserve your loved one’s assets. A special needs trust can help protect your family member’s assets from being spent on medical care or other expenses. This can help ensure that your loved one has financial security in the future.
If you’re interested in creating a special needs trust in Illinois, contact an experienced estate planning attorney at Wilson & Wilson Estate Planning & Elder Law LLC. Our attorneys can help you choose the right type of trust for your loved one’s needs and ensure that the trust is drafted correctly.
Schedule a Consultation With an Experienced Estate Planning Attorney
Special needs children and adults deserve a secure future, and Wilson & Wilson Estate Planning and Elder Law can help you make it happen. Our experienced attorneys can help you create a special needs trust, a vital estate planning tool that can protect your loved one’s financial future and ensure they have access to the care and support they need, even if they receive government benefits.
Special needs trusts can be used to pay for a wide range of expenses, including:
- Medical care
- Education
- Housing
- Transportation
- Recreation
- Other essential needs
We understand that planning for the future of a child or adult with special needs can be complex and challenging. That’s why we’ll work closely with you to create a trust that’s tailored to your child’s individual needs and goals. Our LaGrange and Deerfield estate planning lawyers will also help you navigate the complex legal requirements for special needs trusts, ensuring that your trust is structured properly and that your loved one’s eligibility for government benefits is protected.
At Wilson & Wilson Estate Planning and Elder Law, we believe that every person deserves the opportunity to live a happy and fulfilling life, regardless of their abilities. We’re committed to helping families in Cook, DuPage, and Lake Counties create the special needs trusts that give their children and loved ones the financial security they need to thrive.
Contact us today for a consultation to learn more about how our estate planning team can help you protect the future of your special needs loved one. You can send a message online or call our LaGrange office at (708) 482-7090 or our Deerfield office at (847) 656-8958.
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Wilson & Wilson Estate Planning & Elder Law, LLC helped me navigate a very tumultuous time in my life. Sandra and her team were so gentle with me and the processes that needed to take place for a timely distribution. They worked tirelessly to ensure I was supported throughout the process. Although no one is actually prepared for the death of their loved one Sandra made going through it less painful. I’m forever...
Bill Wilson and his staff are amazing! We have known Bill for over 25 years and have trusted him to handle our different legal situations. From his expertise in our estate planning to seeking his advice on handling our elder relative's estate, we are confident we have the best protection by using Bill. My family and I are truly thankful for his knowledge and patience when dealing with such personal and tough conversations...
GOD has blessed me with alot but by people's standards maybe not that much; however Attorney Sandra Schildgen made me feel like a Billionaire! It is also noteworthy that from the front office and assistant personnel gave that feeling "we are family". I look forward in continuing our relationship in the future. GIVE Wilson & Wilson your business.
Great attorneys, and great staff in general, all knowledgeable and extremely helpful..
Everyone was really professional and helpful with assisting me with Estate Planning!
Mr. Wilson has helped our family VERY MUCH. His "down to earth" honesty and integrity made what could have been a difficult situation easy to get through. AND, we felt his rates were reasonable for the personal service we received. HIGHLY RECOMEMDED.
Wilson & Wilson has the experience, knowledge and professionalism to handle complex estate planning needs.They address all the details and devise a tailored plan providing asset protection, growth and wealth management.
I can’t say enough about the way Sandra, Kayla and Jennie handled my legal needs. The Medicaid process for my husband was very complicated for me but this team of professionals handled all of it and kept in touch with me through the entire process. Every concern and question I had was promptly addressed and I am very satisfied with the final outcome from the appeal Sandra filed for us. In addition to...
Our experience with Wilson and Wilson in updating our estate planning documents was great. Sandra and Kayla were wonderful to work with. Sandra took the time to make sure we understood the language and elements of each document. She is very knowledgeable thorough understanding and open to suggestions and changes. The work was completed in a minimum amount of time. We feel fortunate to have had such a great worry-free experience working with...
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