Dedicated to serving individuals with disabilities and their families

1400 Envoy Circle, Suite 1410, Louisville, Kentucky 40299

Goodin Law Office of Special Needs Planning

Dedicated to serving individuals with disabilities and their families

Services: Special Needs Planning, General Estate Planning

Special Needs Planning

Special needs planning is a lot like it sounds. It involves planning for the future care and well-being of an individual with special needs (whether caused at birth or by subsequent events). This type of planning often arises when parents of a child with special needs seek to have their estate plans written. Unfortunately for parents of a child with special needs, leaving your child a share of your estate outright can have serious consequences. Your child with special needs is likely receiving certain public benefits, such as supplemental security income (SSI) and Medicaid. These benefits are "means tested"; to qualify, income and resource limits must be met. If these limits are exceeded, benefits may be reduced and/or eliminated. Leaving your child with special needs a share of your estate outright would likely put your child at risk of losing some, or all, of their benefits. Proper planning must be done to ensure that your loved one's right to these benefits is not jeopardized by an inheritance, gift, settlement, etc. Through the use of a special needs trust, you can provide for your child's future needs while also protecting the important benefits they are receiving.

Estate Planning

Special Needs Planning

Estate planning involves laying out your wishes regarding how you want the things you own to be distributed after your passing. It can also involve planning for end-of-life care and your incapacity to make certain decisions. By having an estate plan, you can reduce the impact of unexpected life events, reduce taxes, and simplify things for your family following your passing. A few key documents everyone should consider in their estate plan include: Last Will and Testament, Trust, Power of Attorney (Financial & Healthcare), and Living Will (Advance Directive). By implementing these documents now, you can ensure that your wishes are honored.

Guardianship

Special Needs Planning

Guardianship

Guardianship gives a person, the Guardian, control over another person, the Ward. Guardianship can be limited to financial matters (Conservatorship), or can be broad (Full Guardianship), with control over the Ward and most decision-making. Guardianship proceedings are very serious because they strip the Ward of most of their rights. Therefore, these proceedings must be carefully considered prior to moving forward. If you have questions regarding the Guardianship process or would like to schedule a consultation, contact the Goodin Law Office of Special Needs Planning today.

Probate

Medicaid Application Assistance

Guardianship

The word "probate" often invokes negative connotations. However, this doesn't have to be true. Through proper planning, many assets can avoid the probate process all together and can lower estate administration costs. By planning today, you can save money and reduce the burden on your loved ones left to handle your estate.

Medicaid Application Assistance

Medicaid regulations are very complex and change frequently. Understanding these regulations is key for anyone on Medicaid and for those applying for eligibility. It is important to know what documents and information are needed before going to the Medicaid office to apply. Contact the Goodin Law Office of Special Needs Planning today to assist you in the Medicaid application process.