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After careful review of the COVID-19 environment, the law firm of Chayet & Danzo, LLC, will be conducting in-person appointments in our offices on a limited basis and with strict social distancing protocols.

During this time, our team will continue to diligently work remotely on all client matters and will maintain communication through email, telephone, and video conferencing. Our main office number, (303) 355-8500 will continue to be answered during our normal business hours of 8:00 a.m. to 5 p.m. Monday - Thursday and 8:00 a.m. to 4:00 p.m. on Fridays.

This decision to have limited appointments in-office while following strict social distancing protocols is in the best interest and health of our team, clients and community.

We will continue accepting new clients during this period as well as fully servicing our existing clients.

We wish you and your family continued health during these unique and challenging times.

Compassion, talent and dedication: guiding colorado families and Their Trusted Advisors During Times of Need

Planning for two lifetimes with disabled children

Preserving funds through your retirement and end-of-life care becomes even more important when an adult child cannot provide self support. Medical treatment and better care mean that loved ones with disabilities are living longer.

This is a success story, but one that can complicate planning to provide for your loved one. Marketwatch provides an example, a child with Down Syndrome can easily live a full life that extends into his or her 60s. It’s hard to believe that 35 years ago the average life expectancy was less than half what it is today.

A 2012 paper by the Institute on Disability and Human Development estimates that by 2030, there will be 1.2 adults with developmental disabilities aged 60 or older. Today that number is about 642,000.

Carefully review beneficiary designations

The main consideration when parents, relatives and close friends plan a gift to a special needs individual is ensuring it will not jeopardize means-tested benefits. Owning more than $2,000 can disqualify an individual from receiving Supplemental Security Income or Medicaid.

To this end, it is essential that insurance policy and retirement/investment plan beneficiary designations do not list a loved one who is disabled. Any substantial asset should name a trust as the beneficiary.

Special needs trusts and ABLE accounts

Setting up a special needs trust must be completed with care. The guidance of an estate planning lawyer will ensure it is done properly. Templates and forms exist, but they are not tailored to your individual situation and can cause more problems than they solve.

We have talked about another saving vehicle – 529 ABLE accounts that can hold up to $100,000 without jeopardizing benefits. We discussed the basics of these accounts in our June blog post last summer. These accounts may start to be available in Colorado at the end of 2016 or 2017. They are another tool and potentially more cost effective based on your family needs.

Planning for the future is even more important when a family member has special needs. Get tailored, thoughtful legal advice that will provide you with peace of mind that loved ones will be cared for into the future.

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We are the premier Elder Law firm in the Colorado region. We set ourselves apart from other law firms in the area with our talent, dedication, compassion and ability of our attorneys to handle any case in Elder Law. We serve Colorado families with experience and dignity in your time of need.

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Denver Office
650 S.Cherry St., Suite 710
Denver, CO 80246

Toll Free: 1-888-472-1088
Phone: 303-872-5980
Fax: 303-355-8501
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105 Edwards Village Blvd.
Edwards, CO 81632

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Toll Free: 1-888-472-1088
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600 East Hopkins Avenue
Suite 301
Aspen, CO 81611

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Toll Free: 1-888-472-1088
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