Planning for all of life’s unexpected events can be daunting. It is even more so when you are planning for a special needs family member. It’s likely that you are concerned for this person’s well-being in the case you are no longer able to care for them. How will this person survive and remain financially secure? The solution is to set up a special needs trust in Dupage County. See how this can be advantageous both for you and your loved one.
The Basic Benefits
A special needs trust in Dupage County can ensure that your loved one is cared for. In essence, this type of trust will give them long-term security when you are no longer around. These trusts differ from traditional trusts in that they will not disqualify the beneficiary from receiving public benefits. In addition, you have the ability to control how the funds will be spent in the future. Therefore, a special needs trust can be customized to meet the unique needs of your loved one.
Looking at the Pooled Option
One way to make the most out of special needs trusts is to join a pooled trust. This option consists of a number of trusts that are joined together as a single, large investment. What this does is give you the ability to receive a greater return on your trust funds. Yet, it also retains the individual nature of your trust and keeps you in control. Due to this, it is advantageous to choose this type of special needs trust.
For additional assistance with special trust issues, get in touch with Life’s Plan, Inc. by contacting them or by visiting their website for more information about special needs trust in Dupage County
