Five important elements of estate planning are presented for families with a special needs adult child….
Special Needs Planning
Special Needs Children – Spending “For” and “By”
The difference between Special Needs Trusts and INvestABBLE accounts has to do with spending. With trusts, the trustee is the one who pays for goods and services for the special needs individual. ABLE accounts, in contrast, allow the special needs person to access the funds as needed.
INvestABLE Enables Financial Independence for the Disabled
New developments in the INvestABLE accounts for special needs individuals makes financial independence even more of a possibility for disabled adults as well as children.
Life Insurance Can Fill a Special Need
For families with a special needs child, life insurance can be an especially effective tool for funding a trust.
Planning for Children with Special Needs
Estate planning requires specialized planning when you have a child with special needs. Looking to the future as to how your child will be able to function in the world as they age is particularly tricky to assess. What is the child’s long-term prognosis and what type...
3 Things to Consider When Your Special Needs Child Turns 18
By Dara M. Hensel, Estate Planning Paralegal Having a special needs child has many challenges. One of the toughest challenges faced by many parents is knowing how to best care for their special needs child as they reach adulthood. There are many areas that need...
Tips on Creating an Estate Plan that Benefits a Child with Special Needs
By Rebecca W. Geyer Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky. Proper planning by parents is necessary to benefit the child...
Can you protect the future of your loved one with special needs?
Caring for your family member who is special needs and requires significant assistance with day-to-day tasks can be challenging at times, no doubt. However, you enjoy the satisfaction and peace of mind knowing that you are providing the highest quality of care in an...
Special Planning for Special Needs Children on Child Support
Providing for children with special needs through an estate plan involves unique considerations. That is particularly true when the child’s parents are divorced and child support is involved. “There are few challenges more difficult than going through divorce and...
Special Needs Planning for Children
For parents of children with special needs, estate planning involves a special set of challenges. How will a child with a physical or mental disability be taken care of after the parents have died? Importantly, how can the child continue to receive governmental...