SPECIAL NEEDS PLANNING

Parents of a child with special needs, whether the child is a minor or an adult, worry about what will happen to their child when they die or become incapacitated. Many aspects of general estate planning also apply to planning for a special needs child. For example, all parents should have a will and a durable power of attorney (DPA) that allows someone to act on their behalf and manage their financial affairs if they become physically or mentally incapacitated.  Various trusts might also be used to avoid probate or maximize tax savings.  Parents of special needs children face additional planning issues:

  • Providing for the needs of a special needs child without jeopardizing the child’s eligibility for government benefits, such as Supplemental Security Income (SSI) and Medicaid.
     

  • Designing a plan that supplements the government benefits for enhancing the quality of the child’s life.
     

  • Providing for the special needs child while treating their other children equitably.
     

  • Making sure funds are available for the care of the child after their death.
     

  • Establishing a Special Needs Trust (SNT) with enough funds to provide for the care and supervision of the child.

 

Attorney Grant can assist you with all your estate planning needs and work with you to be sure your special needs child will be cared for after your death. Call today.

SPECIAL NEEDS PLANNING