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Parents Should Know The ABCs Of Special Needs Trusts

Attorney Minerva Vazquez featured on
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Parents Should Know The ABC's Of Special Needs Trusts
By Shelly Shwartz
Special needs trusts serve another important purpose, too, according to Minerva Vazquez, an attorney with Miami law firm Frye & Vazquez, who specializes in the area of special needs estate planning.

They protect the assets held within from creditors and claims against the estate.

"A lot of parents think it's OK to leave money to their other, non-disabled child who has agreed to care for their sibling, but they don't consider the possibility of a lawsuit or divorce settlement," Vazquez said.

If the non-disabled child gets sued, files for bankruptcy, causes a car accident or gets divorced, she said, those assets are vulnerable.

"Under a trust, that money is protected from creditors and settlements," Vazquez said.

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