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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. Matthew.Bogin@boginlaw.com. Introduction. What we will cover Why it is important. Matthew.Bogin@boginlaw.com. 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

Matthew.Bogin@boginlaw.com

introduction
Introduction
  • What we will cover
  • Why it is important

Matthew.Bogin@boginlaw.com

things to know
Things to Know
  • SSI
  • SSDI
  • MEDICAID
  • MEDICARE
the importance of estate planning
The Importance of Estate Planning

Matthew.Bogin@boginlaw.com

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

Matthew.Bogin@boginlaw.com

estate planning steps
Estate Planning Steps

Matthew.Bogin@boginlaw.com

what is a will
What is a will?Wills
  • Ensure Compliance with state law

Matthew.Bogin@boginlaw.com

how is a will created
How is a Will Created?
  • Do not forget to comply with all formalities

Matthew.Bogin@boginlaw.com

what assets does a will cover
What Assets Does a Will Cover?
  • Issues with life insurance
  • Issues with retirement plan assets

Matthew.Bogin@boginlaw.com

what happens if a person dies without a will
What Happens if a Person Dies Without a Will?
  • Why intestate succession is a problem

Matthew.Bogin@boginlaw.com

letters of intent
Letters of Intent
  • While not “legally binding” they are extremely important

Matthew.Bogin@boginlaw.com

trusts
What is a trust?Trusts
  • Compliance with state law

Matthew.Bogin@boginlaw.com

how is a trust created
How is a Trust Created?

Matthew.Bogin@boginlaw.com

special needs trust
Trusts Created and Funded by Someone Else

Trusts Funded with Funds Belonging to a Person with a Disability

Special Needs Trust

Matthew.Bogin@boginlaw.com

third party trusts
Third Party Trusts
  • The preferred vehicle

Matthew.Bogin@boginlaw.com

first party trusts
First Party Trusts
  • Remember whose funds and do not co-mingle

Matthew.Bogin@boginlaw.com

how much money
How Much Money?
  • When should trusts be funded
  • How should trusts be funded

Matthew.Bogin@boginlaw.com

who should be the trustee
Who Should Be the Trustee?
  • Individuals vs. Corporate Trustees
guardianship
Guardianship

Matthew.Bogin@boginlaw.com

guardian of the person
Guardian of the Person

Matthew.Bogin@boginlaw.com

guardian of the property
Guardian of the Property

Matthew.Bogin@boginlaw.com

what is the process
What is the Process?

Matthew.Bogin@boginlaw.com

surrogate decision making
Surrogate Decision Making

Matthew.Bogin@boginlaw.com

durable powers of attorney
Durable Powers of Attorney

Matthew.Bogin@boginlaw.com

long term care
Long Term Care
  • Why is it important for parents

Matthew.Bogin@boginlaw.com

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

Matthew.Bogin@boginlaw.com