But gifting assets directly to your child may jeopardize his or her eligibility for government benefits. Financial planning can help your extended family members choose appropriate estate-planning strategies. For example, rather than naming your child as beneficiary of assets placed in a trust, your relatives could pass assets directly to you, providing you with the resources necessary to fund a Special Needs Trust for your child. The issues involved with estate planning and the establishment of trusts can be complex. An estate-planning attorney and tax advisor can help you and your family explore strategies for achieving specific financial and charitable goals.
Financial planning is most beneficial when it becomes an ongoing, lifelong process.
A Merrill Lynch Financial Advisor can help you develop a plan, consider alternative financial strategies, and monitor and update the plan periodically to ensure that it continues to reflect your family's needs and circumstances. The information in this Internet site is directed at, and is intended for distribution to, and use by, persons in the U.S. only. It is not intended for distribution to, or use by, any person in any other jurisdiction. Other non-U.S. investors, including UK investors, are directed to our International Private Client Group site. All rights reserved.