Planning for the disabled
I often have to consult with families regarding assets and disabled persons. Some disabled persons win law suits, some inherit assets, and some had assets prior to becoming disabled. If a disabled person has assets, then an analysis must occur regarding how the assets will be managed and whether the assets will disqualify the disabled person for benefits. There are many techniques, simple and complex, for managing and dealing with those assets, and the planning involves the disabled beneficiary and (often) the entire family.
Also, though the assets of the disabled person are our first item to discuss, it is just as important to look away from the disabled person and determine where assets may come from. For example, a disabled person’s parent may have all good intentions when leaving assets to a disabled child, but with no planning, an inheritance could disqualify the disabled child from many benefits.