• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Levine, Furman & Rubin, LLC

East Brunswick Estate Planning Attorneys

Attend a Free Seminar 732-238-6000
  • Home
  • Our Firm
    • Advantages of Working With Our Firm
    • Attorneys and Staff Profiles
    • Communities We Serve
      • Mercer County
      • Monmouth County
        • Freehold Township, New Jersey
      • Middlesex County
        • East Brunswick
        • Edison
        • Monroe Township
        • Old Bridge Township
      • Ocean County
        • Jackson Township
        • Lakewood
    • Founding Attorneys
    • Multimedia
    • News & Events
    • Our Services
    • Speaker Connection
  • how we can help
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Wealth Planning
    • LGBTQ Estate Planning
    • Loss of a Loved One
    • Special Needs Planning
    • SECURE Act
    • Trust Administration & Probate
  • elder law
    • Caregiver Guidance
    • Coping With Alzheimer’s
    • Medicaid Planning
    • Veteran’s Benefits
  • Seminars
  • RESOURCES
    • DocuBank
    • Educational-Alerts
    • Elder Law Reports
    • Estate Planning Articles
      • The Importance of Retirement Planning
      • Reasons to Create a Living Trust
      • What to Include in Your Will
    • Estate Administration Consult Form
    • Newsletters
    • Pre Consultation Form
    • Reports
    • Special Needs Resources
    • Trust Administration And Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us
Home » Blog » Special Needs Planning and Direct Gifting: Take Caution

Special Needs Planning and Direct Gifting: Take Caution

August 6, 2020 by Roger Levine, Estate Planning Attorney

A comprehensive estate plan is important to both you and your loved ones. However, this is even more so the case if you want to include someone in your estate plan who has special needs.

In addition to concerns about how to best care for them after your passing, you may also have questions about the best way to leave them your assets.

It’s your hope that you settle on a plan for providing your loved one with the care they need for as long as it’s required. But if you don’t know exactly what you are doing, you could jeopardize their eligibility for government programs such as Medicaid and Supplemental Security Income (SSI).

Direct Gifting is Typically the Culprit

While there are many areas of concern, direct gifting is something that deserves extra attention.

Here’s why: when it comes to government programs that provide health care and financial assistance, your loved one’s income and resources are taken into consideration.

And that’s why direct gifting is a concern. Here’s how we explain it on our website:

Giving your child money or assets while you are alive could lead to disqualification. Likewise, leaving direct gifts to your child in your estate plan could also cause your child to lose his or her eligibility for assistance. The solution can be found in Special Needs Planning strategies that are incorporated into a comprehensive estate plan.

So, while you think you’re doing what’s best for your loved one, you’re actually increasing the likelihood that they’ll no longer be eligible for the benefits they rely on.

Fortunately, there’s a solution to this problem: a Special Needs Trust.

With this, you can designate assets to be used for specific expenses, such as regular care, without gifting them directly to your loved one. This allows them to take advantage, all without the risk of losing eligibility for state and federal assistance.

If you’re concerned about special needs estate planning, contact us to learn more about your options. We can review your circumstances, answer your questions, and help you create the perfect estate plan for you and your loved one.

 

  • Author
  • Recent Posts
Roger Levine, Estate Planning Attorney
Roger Levine, Estate Planning Attorney
Roger N. Levine is a co-founder of the East Brunswick, New Jersey law firm of Levine, Furman & Rubin, LLC.
Roger Levine, Estate Planning Attorney
Latest posts by Roger Levine, Estate Planning Attorney (see all)
  • What to do if Your Will is Outdated - December 1, 2021
  • Important Questions Related to Incapacity Planning - October 8, 2021
  • Here’s What an Estate Planning Attorney Can Do For You - October 5, 2021

Primary Sidebar

Levine, Furman & Rubin, LLC

Levine, Furman & Rubin, LLC

NEWSLETTER SUBSCRIPTION

FOLLOW US

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

WHERE WE ARE

East Brunswick (Main Office)
F-3 Brier Hill Ct.
East Brunswick, NJ 08816
Phone: (732) 238-6000
Fax: (732) 238-6055

MAP

Map

SATELLITE OFFICE

Jackson (Satellite Office)
19 N County Line Road Suite 3
Jackson, NJ 08527
Phone: (732) 238-6000
Fax: (732) 238-6055

OFFICE HOURS

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Footer

Levine, Furman & Rubin, LLC

Levine, Furman & Rubin, LLC

Levine, Furman & Rubin, LLC

East Brunswick (Main Office)
F-3 Brier Hill Ct.
East Brunswick, NJ 08816
Phone: (732) 238-6000
Fax: (732) 238-6055

Map/Location

Map

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Jackson (Satellite Office)

19 N County Line Road Suite 3
Jackson, NJ 08527
Phone: (732) 238-6000
Fax: (732) 238-6055
Map

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

The information on this website is for general information purposes only. Nothing on this or associated
pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This
information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.
Privacy Policy | Terms of Service | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys
© 2022 Levine, Furman & Rubin, LLC. All Rights Reserved.