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| KEEPING GOVERNMENT BENEFITS FOR A MENTALLY ILL SON SOURCE: RECER EXPERIENCE. A couple, in their 70s, came to see me and told me a heart-wrenching story. "About 40 years ago, we adopted two small boys," the husband said. "When one was 19, he developed mental problems and has been in and out of the state hospital for the last 20 years." The lady chimed in, "He receives SSI government benefits ... and we help some." Looking down the man continued, "Our other son is some kind of Hell's Angel." "We hear from him about once or twice a year from wherever he is hanging out ... and he has never held a job for very long." The lady said, "We have an estate of $400,000 and we are so worried that it will be wasted and that all our hard work will go for nothing." I showed them how to do a PAKT, Protect Assets for Kids Trust, or Spendthrift Trust and to add "luxury" features that would allow the disabled son to continue receiving SSI payments. When we finished, I offered to go to the lawyer with them to explain everything. We did and he drafted the documents that I had suggested. When we were finished with our session, the lady turned to her husband and exclaimed, "It's a miracle." Until her "miracle" exclamation, I had not realized how traumatized they had been over these circumstances. While the plan we created was far from miraculous to us, it lifted a heavy burden from their shoulders. |
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