In today’s world with the high level of divorce, creditor claims and bad influences, parents should consider setting up Safe Trusts (also referred to as “Family Protection Trusts”) for their children and grandchildren. The Safe Trust will allow your child to benefit from the income and trust assets as needed without risking the trust assets to problems that arise which may or may not be in the control of your child.
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Additional Questions:
- My spouse was just admitted to a nursing home. How can I pay for their care?
- My child has special needs. What government benefits are available?
- When I pass away, how do I leave assets in a protective way for my children and grandchildren?
- How do I keep my plan current?
- How will financial and health care decisions be made and by whom, if I am not able to make them?
- My parent needs care at home. How can we access Medicaid to pay the bills?
- How do I minimize federal and New York State estate taxes?
- What do I need to know when I sell my house?
- My loved one lacks capacity to make decisions. Do I need a Guardianship?
- I had to stop working because I became disabled. Do I qualify for Social Security Disability?
- I am in need of assistance at home. As a Veteran, is there any benefit I can receive to help pay for my care?