Special Needs Planning


Special Needs Planning

Families with disabilities and/or special needs have a bit more to think about when it comes to estate planning. 

First is to ensure that asset transfers are planned thoughtfully so that minor or adult children can remain eligible for any government benefits they are entitled to receive should something happen to their legal guardians. This may be accomplished in a number of ways depending upon the needs of the child and the family's financial situation: Supplement Needs Trusts, ABLE Accounts, and Pooled Trusts are some of the options that help families create functional estate plans that suit all members of their family.

It is also crucial to plan for advocacy. Together we can discuss and determine who should act as a child's advocate, and what that role should look like over time. It is also crucial to document details about the child's disability, how you would like you child's resources to be used, and how you picture your child's future. 

Know that planning for your family can be difficult and emotionally taxing, especially if your family has a disability or special need. But creating a thoughtful plan can help to lighten the load of an uncertain future.