Rivkin & Rivkin concentrates its practice in the areas of estate planning, estate and trust administration, planning for children with special needs, and planned charitable giving. We have experience in financial planning and a sensitivity to the psychological and emotional issues often implicated by the passage of wealth. As a result, we take a broad, holistic approach to each particular individu
al or family situation. In line with this view, we do not attempt to squeeze our clients into pre-packaged solutions. Instead, we listen to their desires and concerns, educate them on tax and other legal issues affecting their planning, offer alternative approaches to achieve their goals, and tailor our work to meet their individual needs. We also provide our clients and their other financial advisors with clear directions regarding the tasks necessary to implement their planning and communicate with our clients about updating their plans as their needs and circumstances change. We are careful and deliberate in our work. At the same time, we strive to do our clients’ work efficiently and pragmatically -- and without over-planning -- so that the scope of our work is driven by the value added. Our guiding principle is to counsel and assist each client as if he or she were a member of our own family. Program Details
Rivkin & Rivkin, LLC’s Pro Bono Supplemental Needs Planning Program (formerly known as the DSNP program) provides comprehensive estate and supplemental needs planning at no cost to eligible families facing the challenges and expense of raising a child with special needs. What is Supplemental Needs Planning? Individuals with disabilities have a lifetime of needs for which their parents and other loved ones wish to provide. However, leaving an inheritance outright to a child with a disability or to a typical health and support trust for the child’s benefit might jeopardize the child’s ability to access Medicaid and SSI, two important public benefit programs for individuals with disabilities. The goal of supplemental needs planning is to make assets available to enrich the quality of life of an individual with disabilities, above and beyond what public benefit programs might provide for that person (generally food, shelter, medical care, and nursing care). Such planning typically involves the creation of a special type of trust, called a “supplemental needs trust” or “SNT,” to hold assets for the benefit of a child with disabilities. When properly drafted and funded, an SNT will be available to provide for the child’s many needs that exceed the core essentials intended to be covered by public benefits, without jeopardizing the child’s access to those programs. To be most effective, an SNT should be part of a broader, coordinated estate plan that includes a will and powers of attorney. How Does the Pro Bono Program Work? A few times per year, our firm hosts an in-depth presentation on supplemental needs and estate planning for families with children that have special needs. After the presentation, eligible attendees may choose to participate in the program’s next stage: the creation of coordinated estate planning documents, including supplemental needs trusts for the child with special needs. To do so, participants first complete an online questionnaire to provide asset and family information and to specify their planning choices, such as the selection of trustees and the determination of how their assets will be distributed at death. They then consult with one of our attorneys by phone to confirm their selections and discuss any questions they might have. Finally, participants meet with an attorney in our office to review and sign their estate planning documents. Are There Any Eligibility Limitations? Although we wish the program could serve every family with a child that has special needs, in order to meet the program’s mission and serve many families throughout the year with the program’s available resources, we have established a number of initial eligibility limitations. For detailed information about these limitations, please visit http://eligibility.rivkinprobono.org. How Much Does Program Participation Cost? Those who participate in the planning portion of the program receive supplemental needs trusts, wills, powers of attorney, and related memoranda and illustrations at NO CHARGE. How Do I Register? Please visit www.rivkinprobono.org to register for the next Pro Bono Supplemental Needs Planning Program presentation. Each presentation will be limited to 12 families, based on order of registration.
