Providing for a severely disabled dependent is a profound concern for many families.
Disability Trust Wills enable parents and immediate family members to make provisions for the current and future care and accommodation of family members who meet the severe disability criteria.
Under Disability Trust Wills, family members are allowed a gifting concession for a combined amount of up to $500k, which is put in a trust for the disabled person. The recipient is allowed an assets test exemption for up to $596,500 (indexed annually), preserving their eligibility for public assistance where appropriate. When the recipient dies, the trust ends and the assets are distributed according to the provisions of your will.
If you have a disabled dependent, contact us to discuss how a Disability Trust Will can provide security for that person, and peace of mind for you.