If you have a child with special needs, you are already on a unique journey. To ensure your child receives the best care and maximizes quality of life, you should sit down with an estate planning attorney. The process will be much easier and you can guarantee your child receives the best benefits possible!
With special needs children, a number of unique obstacles are presented. Families must exercise special care when making estate planning decisions involving special needs children. This is true whether the child(ren) with special needs is still a minor or an adult, especially if receiving public benefits such as SSI and Medicaid. Specific considerations will vary depending on the individual’s abilities, but the primary focus should still be to provide maximum benefit to the special needs child/adult’s life. Creating a solid estate plan can optimize the comfortability and quality of life of special needs children. Parents must be conscious of income, assets, and potential expenses when estate planning with special needs children in mind. In essence, special needs estate planning must focus on the preservation of public benefits while still putting aside to supplement.
Below are a list of options to consider when creating an estate plan with special needs children in mind.