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Special Needs Protecting Your Family & Legacy

Madison Special Needs Lawyers

Protecting the Future of Your Loved Ones with Disabilities

At Krause Donovan Estate Law Partners, LLC, we provide special needs estate planning services. If you are a parent of a child who has special needs, we can help you carefully plan for their future. What will happen to your loved one when you are no longer there to assist them? Our Madison special needs attorneys can help you prepare an estate plan that coordinates all of your child's financial, legal, and special care needs.

Call our experienced estate planning lawyers today at (608) 344-5491 to schedule a free consultation.

Understanding Your Special Needs Estate Planning Options

There are a variety of trusts that are designed to assist with the unique challenges that arise with special needs estate planning. The two most common types include:

  • Support trusts – This type of trust allows a parent (the trustee) to provide for their child’s basic needs, such as medical care, clothing, food, shelter, and educational services. However, a support trust prevents the child (the beneficiary) from being eligible for Medicaid or Supplemental Security Income (SSI). Those whose children will need Medicaid or SSI should consider an alternative option to a support trust.
  • Special needs trusts – Many parents find that the best way to plan for their child with a disability is through a special needs trust. This type of trust provides a means of managing the necessary resources for their child, while the child remains eligible for public assistance benefits.

Special Needs Trusts

If you have loved ones with disabilities, a special needs trust is an essential component of your estate plan. One option for this type of trust is a stand-alone trust that is funded with separate assets. Alternatively, you may choose to make a special needs trust a sub-trust of any existing living trust.

There are two types of special needs trusts:

  • Third-party special needs trust: This type of trust is created with one’s assets that are a part of an estate plan. In this case, the assets would be administered by a will or a living trust.
  • Self-settled special needs trust: A trustee, such as a parent, legal guardian, or grandparent, funds a trust with the child’s assets. One common example of this is when a child receives compensation for a personal accident claim and he or she will need lifelong care.

Assistance for Special Needs Estate Planning

Preparing an estate plan for your child with special needs requires substantial research and planning. Krause Donovan Estate Law Partners, LLC is here to guide you through every stage of the estate planning process, including the creation of a special needs trust. Call today to discuss your situation with our experienced special needs lawyers in Madison.

Here are some resources you may find helpful in the planning process:

Contact Krause Donovan Estate Law Partners, LLC today at (608) 344-5491 for professional assistance with special needs estate planning.

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  • He took the time to understand our goals and our family situation. He was friendly, thorough, and very knowledgeable.

    “What a great attorney! He explained everything to us in plain English, with no legal jargon. He took the time to understand our goals and our family situation. He was friendly, thorough, and very ...”

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  • Krause Donovan was wonderful...they asked all the right questions, were patient with our back and forth, and everything was wrapped up successfully.

    “My husband and I needed a will and turned to Krause Donovan for their help after the firm had invited us to a "what is estate planning all" about dinner/meeting. Having a will was something we knew we ...”

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  • Nelson was very understanding and put me at ease from the introduction. He thoroughly explained processes, answered all questions, took the time needed, and was detail-oriented.

    “I first met with Mr. Donovan this fall to discuss my estate planning. This is something a person dreads doing, but Nelson was very understanding and put me at ease from the introduction. He thoroughly ...”

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  • They explain the process in terms that are easily understandable and always have your best interests in mind.

    “I highly recommend Kraus Donovan for all of your estate planning needs. They are thorough, knowledgeable, and very helpful. They explain the process in terms that are easily understandable and always ...”

    - Barbara
  • He was able to guide us through this process with a thorough understanding of what decisions we needed to make to create clear directives for our family to follow if needed.

    “My husband and I went to Dan to help plan our estate. He and the folks at Krause Donovan were very professional, friendly, and efficient. Dan is fluent in what he practices. He was able to guide us ...”

    - Victoria
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