Did you know…?
- 2.6 Million children in America have special needs
- 62% of parents of children with special needs have no plan for the care of their child when the parents are no longer able to provide that care
- 50% of parents with a plan make the mistake of leaving money directly to the child with special needs
When a child with special needs receives government benefits to pay for his/her cost of living, receiving an inheritance (no matter how big or how small)greatly impacts whether he/she will continue to be eligible to receive those benefits. It is critical for the parent creating an estate plan to consider both the needs of the aging parent and the needs of the aging child. Take these the three steps to ensure a child with special needs is protected:
- Work with an Elder Law attorney well-versed in disability planning techniques to establish a trust for the benefit of the child with special needs;
- Seek out resources for your child while you are healthy in order to avoid catastrophic changes in the event of a medical emergency or long-term illness
- Speak to the person you want to be your child’s personal representative to ensure that the intended personal representative fully understands the commitment for your child’s care and to ensure that the intended personal representative is willing and prepared to accept such a responsibility.
Call today to find out how you can protect your child with special needs after you are no longer able to do so yourself.
