Special Needs Estate Planning

When you need peace of mind...

Families of children with disabilities or unique needs can be overwhelmed by all that goes into caring for their children. Oftentimes, loved ones are so busy making day-to-day decisions they oftentimes do not make plans for their child's future. 

It is important for parents to give thoughtful consideration to a care plan for their disabled child for such time when they will not be around to care for their child.  Without adequate planning their child could become destitute or completely dependent upon their siblings for financial support. This is just one reason why special needs planning is so essential.

To prevent this from happening families need to think about:

  1. Who will make health care decisions?
  2. Who will make financial decisions?
  3. Where will your disabled child live?
  4. How will your child's medical expenses be paid?

In order to properly address these issues, families that have children with needs should have:

  1. A Will that adequately protects their child and addresses essential matters like naming a Guardian(s).
  2. Arrangements to make sure assets such as retirement plans and life insurance are properly designed to protect the child.
  3. A Special Needs Trust created so your child will have supplemental resources to help maintain his or her quality of life.
  4. If appropriate, a Guardian or prospective Guardian in place to ensure that your child will always be properly cared for.

Your child deserves the best possible care throughout his or her lifetime. Contact the special needs planning experts at Newman Elder Law today to make sure that all of your special needs estate planning is handled properly.  Not only will you feel like a large weight has been lifted off your shoulders, you will have peace of mind knowing that your child will be cared for according to your wishes and by the people that you choose!

 

Related Blog Articles

For more information about special needs estate planning services from our elder law attorneys, please read these following articles from our blog:

What You Need to Know About Special Needs Planning

Understanding Government Benefits for Special Needs Planning

Planning for the Future of Your Adult Special Needs Child

Special Needs Planning: Important Documents to Keep on Hand

Planning for the Future of a Child with Special Needs: Five Mistakes That Can Cost You