As Rubin Law of Chicago points out, "Public benefits such as Social Security, Medicaid, and more may be crucial sources of financial support for your child throughout life, and the loss of those benefits could be catastrophic. A special needs trust has the advantage...
If you’re considering executing an estate plan in Indiana, or have an existing plan that needs updating, you’ll be glad to know that the process is customizable to your needs. This means that you don’t have to include or omit specific documents in your plan. You’re...
Five important elements of estate planning are presented for families with a special needs adult child….
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.
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.
For families with a special needs child, life insurance can be an especially effective tool for funding a trust.
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...
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...
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...
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...
