Cormac McEnery Estate Planning Law Blog on Lawyers.com

The Trust That Every Will Should Have

Thursday, April 23, 2009 by Cormac McEnery

When you leave someone a bequest in your Last Will and Testament, it is your intent that the bequest should benefit that person, not cause them financial detriment.  Unfortunately, sometimes receiving a bequest under a Will can cause the beneficiary to be disqualified from government benefits which they are currently receiving, or would have otherwise been eligible to receive.  While none of your beneficiaries may currently be receiving benefits such as Medicaid, Veterans or SSI benefits, at the time you draft your Will, the same may not be true at the time the distributions under your Will are made.

Your Last Will and Testament should empower your executor to elect to distribute any beneficiary’s bequest under your Will into a Special Needs Trust, thereby preserving the bequest.

The distributions from a Special Needs Trust can be used to enhance the quality of life of the beneficiary, as the funds in the trust are available for such things as recreational items and services, individual support services, therapy, rehabilitation, training programs, education, transportation (including vehicle purchase), essential dietary needs, prescription medication, medical, eye and dental expenses, and other care that is not, or not adequately covered by governmental programs. Read the remaining article by visiting Cormac McEnery Law Firm's website or click here.

Attorney Cormac McEnery Handles;

For more information about NYC Elder Law, NYC Medicaid Planning, NYC Estate Planning and to set up a free consultation contact NYC Estate Planning Lawyer at 1-888-368-4329.

Posted at 14:55 PM
Topic: Estate Planning
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