Planning for a loved one with special needs to be cared for after you’re gone may involve some of the most important and emotional decisions you make.
A recent article on Forbes.com focused on planning for a child with special needs, especially when we are no longer there to organize and advocate on their behalf. Parents of children with special needs must make careful estate planning choices to coordinate all of the legal, financial, and special care needs of their children – both now and in the future. Comprehensive planning involves maximizing opportunities and minimizing risks.
As the Forbes writer pointed out, making arrangements for lifetime special needs care is different than ordinary estate planning. Special needs planning is a balancing act to provide for the loved one with special needs, as well as for other members of the family, while at the same time protecting eligibility for government benefits designed to help those with special needs:
“There are many intricacies in planning for the secure future of your family member with special needs. The process can certainly appear daunting at first, but the key is recognizing that you do need to plan, and the time to start is now.”
We work daily with families facing these issues and offer a wealth of information about Special Needs Planning, including our Free Report. In this FREE REPORT you'll learn about the four essential steps in Special Needs Estate Planning, why Special Needs Trusts are important and how proper planning can maximize your resources for your loved one(s) with special needs, while preserving their eligibility for public benefits.Tags: estate planning, medicaid, Medical Assistance, public benefits, special needs, Special Needs Trusts, trusts, wills, wills/trusts