In Arizona special needs plans, a letter of intent is a written document that communicates a parent’s or guardian’s intentions and important information regarding the care of an individual with disabilities. It has no legal weight, but it helps direct future caregivers or legal teams by communicating daily needs, medical requirements, preferences, and long-term [...]
They usually stem from: 1) not establishing the appropriate legal tools, 2) missing critical government benefit rules, and 3)not keeping plans current. Trusts are skipped, or the wrong trust type is picked, which can put a child’s public aid at risk. Forgetting to name the right guardians or not telling family about the plan [...]
There are two primary types of special needs trusts: first-party and third-party, which are designed to assist individuals with disabilities in preserving public benefits when there is additional money available. First-party SNTs utilize the beneficiary’s own assets, typically from a settlement or inheritance. Third-party special needs trusts hold money from somebody else, such as [...]