Accident, Injury and DUI Law Office
Attorney Cynthia Macklin provides legal guidance on:
Attorney Cynthia Macklin prides herself on assuring her clients are provided with the highest quality estate planning, Wills, and Trust services and strategic tax planning. Whether you have a very large or very small estate, she will provide you with practical estate planning strategies to preserve your wishes, your estate, your peace of mind and family harmony.
Special Needs Trusts (AKA Supplemental Needs Trusts)
Who will assure that your loved one who is elderly, or has a disability, or has special needs will be taken care of if your gone? You must plan carefully now, to assure that he/she will be properly and financially cared for. Poor planning now, could jeopardize your loved one’s ability to receive Supplemental Security Income (SSI) and Medicaid benefits. A Special Needs Trust can help you to avoid these problems.
Owning property such as a house, furnishings, a car, and regular personal effects does not typically disqualify eligibility of SSI or Medicaid. However, other assets, such as money in the bank, will disqualify your loved one from benefits. A way to avoid these problems is to set up a Special Needs Trust.
Instead of leaving a lump sum of money to your loved one, which will disqualify them from SSI and Medicaid, you’ll leave it to the Special Needs Trust. You can also designate someone to serve as the Trustee, who will follow your clearly written wishes over the trust property and how you wish the money to be spent on your loved one’s behalf. This can include paying rent, purchasing essentials, and whatever else you have designated. Because your loved one will not have direct control over the money, SSI and Medicaid will ignore the trust property for eligibility purposes.
A Special Needs Trust can also be set up for a loved one when you have concerns about their ability to make smart financial decisions. This can be the case in many scenarios, such as a loved one who has addiction problems. A Special Needs Trust will assure that the money and/or property is distributed in the manner you have requested.
Attorney Cynthia Macklin also serves on the NAMI (National Alliance of Mental Illness) Pierce Board of Directors as the President. She also has extensive knowledge in assisting those who wish to leave portions of their estate to non-profits. She is uniquely positioned to understand non-profits and the desire to leave charitable donations in estate planning.
Have you made plans for your family’s future?
You’ve worked hard and made smart financial decisions throughout your life to accumulate assets and financial security and you want to assure that you're able to pass on your legacy to your family and loved ones, with the least amount of obstacles. One way to avoid the often-litigious probate process and assure the best tax planning, is through Estate Planning.
A properly written estate plan should provide you with the comfort of knowing your loved ones will be provided for in the most effective and efficient manner by avoiding probate, guardianship during your lifetime, estate taxes and other unnecessary delays.
You have worked hard all your life to accumulate personal assets and we want to ensure that you pass on your legacy to your family. Estate planning is the process by which a person provides for the care of their person and property during life and the disposition of their property at death.
Careful estate planning protects you, your loved ones, and your assets. Without the proper planning, unexpected events can quickly wipe out a lifetime of acquisitions leaving you, your business, and your loved ones at risk of substantial loss.