Hungkyu Chun, Esq. is a manager of Chun & Associates, PLLC, and a counselor at law admitted to New York State. Mr. Chun has gone through similar concerns and life matters as you have had. As a father of three children, a son of senior parents, an employee, an investor in real estate, an owner of a business, and an immigrant, Mr. Chun has built up competency and an empathetic mind that match your specific matter.

While dealing with complex tax and business matters for US corporations, foreign-owned companies doing business in the US, and high-wealth individuals, Mr. Chun has been privileged to volunteer in a community for disabled people and families. Mr. Chun found that the previous estate planning legal services for such families were so one-time transactional and were not adequately followed up. Some important assets remain outside the trust, and hourly legal service charge experiences discouraged such families from contacting their previous lawyers for questions.

Mr. Chun is committed to being a relational lawyer as opposed to a transactional lawyer meaning that the engagement is the starting point of long-term relationships with his clients. Mr, Chun considers the unique situations and needs of each client and provides premium and affordable service on a flat fee basis. Mr. Chun is Korean/English bilingual and is committed to and experienced with serving Korean American families with special needs.

Experience

• Chun & Associates, PLLC, Member Manager
• Universal Display Corporation, New Jersey Headquarter, Tax Director
• Catalent Pharma Solutions / LG Electronics USA, Tax Senior Manager
• Ernst Young / KPMG Manhattan Office, Tax Manager
• Samsung Corporation, Seoul Headquarter, Import & Export, Assistant Manager

Education

• Syracuse University, Juris Doctor and MS in Accounting Joint Degree
• University of Illinois at Urbana-Champaign, MS in Finance
• Seoul National University, Bachelor of Economics

Firm Description

Planning For Your Special Needs Child

Estate planning for a family with special needs children comes with a complex set of financial, social, and medical issues that some lawyers are ill-equipped to handle. But the experienced special needs planning attorneys with Chun & Associates are dedicated to ensuring your child with special needs will be well taken care of when you’re no longer able to serve as the primary caregiver.

We offer a variety of estate planning tools and strategies designed to accommodate the unique circumstances presented by children with special needs and their families. We can help you pass on the financial assets needed for your child to live a rich quality of life without jeopardizing their eligibility for government benefits.

Special Needs Trusts

One paradoxical situation surrounding estate planning for those with special needs is leaving enough money to pay for the massive amount of care and supports these individuals typically need throughout their lifetimes. Yet, if parents leave a large lump sum of money directly to a child with special needs, they risk disqualifying him or her for government benefits like Medicaid and Supplemental Social Security Income.

Fortunately, the government allows assets to be held in what’s known as a “special needs trust” to provide supplemental financial resources for the physically, mentally, or developmentally disabled child without affecting their eligibility for public healthcare and income assistance benefits. That said, the rules for such trusts are quite complicated.

For instance, funds from a special needs trust cannot be distributed directly to the disabled beneficiary and must be disbursed to a third-party who’s responsible for providing the goods and services they need to maintain a comfortable lifestyle. What’s more, the requirements for a child with special needs change dramatically over time, as do the laws governing public benefits.

 Given this, it’s vital to work with an experienced special needs attorney who can create a comprehensive special needs trust that’s both properly structured and appropriate for your child’s specific situation.

Hours

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