Some Maryland parents may have children with disabilities. Though these parents undoubtedly love their children immensely, this love may also lead to serious concerns about how their children will be cared for after their parents' passing. Luckily, individuals may be able to address such concerns as they work on their estate plans. Setting up a special needs trust could prove considerably beneficial.
In many cases, special needs individuals rely on disability income, and a sudden influx of extra money -- such as from an inheritance -- could potentially lead those individuals to be disqualified from obtaining that income. Therefore, many parents likely want to avoid possibly causing issues with their children's income while also providing them with an inheritance. In these cases, information on special needs trusts could help.