Micliz and his team have informed the siblings of potential intricacies, including taxation and probate, the handling of the estate and managing the transition in care for their brother. The team has also defined the scope of the arrangement and the expectations on both sides. Every decision they make concerning their brother must “go through the test of whether it’s in his best interest now and in the future,” said Micliz.
It’s also been important to figure out how to provide the son with a sustainable level of income without disqualifying him from government benefits. Gifts from good-hearted family members and friends can inadvertently jeopardize those much-needed benefits.
Micliz’s client has gotten very emotional in meetings, which he says is a description of how important it is to her that her son’s future will be secure when she is no longer around.
“Our message to families like this is that we strive to reduce the financial burden,” he says, “so that they can focus on what really matters, which is the care of the individuals involved.”