How can I protect the assets of my disabled family member?

It is important to protect the assets of your disabled family member in the state of Arizona. One way to do this is by setting up a Special Needs Trust. A Special Needs Trust is a legal entity specifically set up to provide for the financial care of a disabled person. This trust can be funded with money or property, and the trust will manage and use the assets for the benefit of the disabled person without disqualifying them from receiving public benefits. Another way to protect the assets of your disabled family member is to apply for an Arizona Appointed Representative. This appointment is done through the Arizona Department of Economic Security and requires the disabled person to be found legally disabled by the Social Security Administration or the Veteran’s Administration. An appointed representative serves as a conservator or fiduciary and can help with managing financial assets, as well as social services. In addition to setting up a trust and applying for an Arizona Appointed Representative, you may also be able to set up a guardianship for your family member. A guardianship is a legal relationship between the individual who is found legally disabled and a guardian who is typically a family member. Through a guardianship, the guardian can be appointed to provide medical care and manage the financial assets of the disabled person. However, this option is typically reserved for more serious cases. Finally, it is important to consult with a qualified attorney to discuss all of your options and ensure that you are taking the right steps to protect the assets of your disabled family member.

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How can I protect the assets of my disabled family member?

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