Why is Planning Important for Parents of Special Needs Children?
No one wants to think about a time when they are no longer around, but the unexpected happens, and what you do or don’t do today can have a serious impact on your child’s future. Who will take care of them? Will they have finances to cover food, housing, as well as other necessities and items to lead happy and healthy lives?
You need to have a will, of course, but it’s more complicated than that. Simply naming a child with special needs as a recipient of assets in your will or retirement account can cause the loss of government funds such as Supplemental Security Income. You also need to choose a guardian and whether to use a fiduciary, or the courts will step in to make those decisions, which may not be consistent with your vision for the child’s future.
Check out this family’s special needs planning story
Chris and Lori are parents to two boys with special needs. Zach is significantly impacted by athetoid cerebral palsy and Noah has high functioning autism spectrum disorder, ASD. While there can be struggles, they feel their lives are blessed with so much joy. They are so grateful for benefits that help them care for Zach and ensure that Noah has a productive and satisfying future. They recognized the importance of developing an Estate Plan to safeguard the needs and benefits of both boys as adults, regardless of their own disposition. They have established a Guardianship for Zachary, who is turning 18 soon and when they have passed away, a third party Special Needs Trust will be funded with, at minimum, life insurance proceeds.
Planning Tools
Finding the Right Professionals
Selecting the right attorney, planner or other professional is vital in planning for the future of a special needs child. The following resources are designed to help you make the right choice:
- Meet our SARRC Professional Advisory Council
- Special Needs Answers from ElderLawNet Inc.
- Special Needs Alliance
- Additional Resources
Guardianship Resources
Other Resources
- Guide to Traveling With a Child That Has a Disability
- Financial and Estate Planning for Children With Disabilities
Autism Speaks Special Needs Financial Planning Tool Kit is a Great Resource
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