Tarrant County Family Law Blog

The benefits of a special needs trust

Planning is key to creating a solid special needs trust for children who have been born with or attained a mental or physical disability. Such a financial vehicle may ensure that your children will retain a quality of life at least on par with what they had when you and other loved ones were alive to help care and love them.

A special needs trust or supplemental needs trust provides money for disabled children without disqualifying them from government benefits such as food stamps, Medicaid and Supplemental Security Income payments, which require recipients to have no more than $2,000 in assets and provides limits on income.

How unmarried fathers can stay involved in children’s lives

Nearly 40 percent of all children are born to unmarried parents. While many unmarried couples choose to stay committed to each other and raise the children together, there are a number of couples who don’t stick together.

Oftentimes in such situations, the child will live with the mother. But this doesn’t leave the child’s birth father out of the picture. Or at least it shouldn’t. Many unwed fathers know little about their legal rights as a parent, but they do have them.

Spendthrift clause in trusts can protect heirs from themselves

For your estate plan, you have decided to create a trust, rather than a will. Why? You have your reasons, but a big reason is your concern about the spending habits and lifestyles of your beneficiaries.

As long as you have known them, they have not handled money in a prudent manner. Financial responsibility has not been their strength. They have splurged too many times, buying expensive things too quickly without thinking through the purchase. Some heirs also may have substance abuse problems. All of this makes you nervous, especially since you have a sizable estate.

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