As the parent of a special needs child, you naturally worry about what will happen to you once you are gone. You want to know that whoever takes over your child’s care will be able to get the services and help needed to ensure his or her health. You also want to avoid your child becoming a financial burden on anyone.
To ensure that your son or daughter has the best life possible after you are gone, you can start leaving money aside for this purpose. You can start by hiring a lawyer to oversee your special needs trusts in Madison, WI, today.
Accruing Interest
In the ideal situation, you want to start a trust that will continuously draw interest on the principle. Your lawyer can advise you on what kind of trust to open and how to invest the funds so that the future caretaker draws on the interest every month rather than the principle. This investment ensures that the money never depletes.
Safeguarding the Money
Your lawyer can also ensure that the money goes to your child and not the luxuries or whims of the caretaker. This service guards the trust from abuse or misuse. It will go for what you intended it.
You can find out more about starting and putting money into special needs trusts in Madison, WI. To set up a consultation, you can contact Horn & Johnsen SC or go to https://hornjohnsen.com/.
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