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Life and Estate Planning for Families With Special Needs. Matthew Bogin, Esq. 5454 Wisconsin Avenue Chevy Chase, MD 20815 301- 656 - 1755. [email protected] Introduction. What we will cover Why it is important. [email protected] Things to Know. SSI SSDI

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Life and estate planning for families with special needs

Life and Estate Planning for Families With Special Needs

Matthew Bogin, Esq.

5454 Wisconsin Avenue

Chevy Chase, MD 20815

301- 656 - 1755

[email protected]


Introduction
Introduction

  • What we will cover

  • Why it is important

[email protected]


Things to know
Things to Know

  • SSI

  • SSDI

  • MEDICAID

  • MEDICARE


The importance of estate planning
The Importance of Estate Planning

[email protected]


Six reasons to plan your estate
Six Reasons to Plan Your Estate

[email protected]


Estate planning steps
Estate Planning Steps

[email protected]


What is a will

What is a will?

Wills

  • Ensure Compliance with state law

[email protected]


How is a will created
How is a Will Created?

  • Do not forget to comply with all formalities

[email protected]


What assets does a will cover
What Assets Does a Will Cover?

  • Issues with life insurance

  • Issues with retirement plan assets

[email protected]


What happens if a person dies without a will
What Happens if a Person Dies Without a Will?

  • Why intestate succession is a problem

[email protected]


Letters of intent
Letters of Intent

  • While not “legally binding” they are extremely important

[email protected]


Trusts

What is a trust?

Trusts

  • Compliance with state law

[email protected]


How is a trust created
How is a Trust Created?

[email protected]



Special needs trust

Trusts Created and Funded by Someone Else

Trusts Funded with Funds Belonging to a Person with a Disability

Special Needs Trust

[email protected]


Third party trusts
Third Party Trusts

  • The preferred vehicle

[email protected]


First party trusts
First Party Trusts

  • Remember whose funds and do not co-mingle

[email protected]


How much money
How Much Money?

  • When should trusts be funded

  • How should trusts be funded

[email protected]


Who should be the trustee
Who Should Be the Trustee?

  • Individuals vs. Corporate Trustees


Guardianship
Guardianship

[email protected]


Guardian of the person
Guardian of the Person

[email protected]


Guardian of the property
Guardian of the Property

[email protected]


What is the process
What is the Process?

[email protected]


Family law issues

Why are these important?

FAMILY LAW ISSUES

[email protected]


Surrogate decision making
Surrogate Decision Making

[email protected]


Durable powers of attorney
Durable Powers of Attorney

[email protected]


Long term care
Long Term Care

  • Why is it important for parents

[email protected]


Estate planning for families with special needs

Estate Planning for Families With Special Needs

Matthew Bogin, Esq.

5454 Wisconsin Avenue

Chevy Chase, MD 20815

301- 656 - 1755

[email protected]


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