If you have children, you know how important it is to make plans for them in case you unexpectedly pass away. While no one really wants to think about this possibility, you never know what the future holds so it’s vital that you make arrangements for who will care for your children after you’re gone. However, if you have a child with special needs, planning for the future is even more important. If you have a unique family situation, use these tips so that your loved ones are taken care of.
What Is Guardianship?
In typical situations, parents will appoint a guardian — someone who will take care of their children until they reach the age of 18. However, in families with special needs children, sometimes the responsibility doesn’t end when the child reaches age 18. Depending on the child’s requirements, he or she could require full-time medical care or assistance well after age 18.
Guardianship of a special needs child can require a lot of patience, which means you need to select your guardian carefully. In many cases, parents who have performed these day-to-day care tasks have support systems in place, but guardians who are thrust into this position may not have the patience, support or coping mechanisms in place to care for a child with special needs. Before you name someone, make sure that they fully understand what guardianship could mean to their everyday life.
Why Is A Special Needs Trust Important?
A regular trust can help provide for your dependents after you’re gone. Money is placed in a trust, where it is held until the child reaches a specific age — generally 18, 21 or 25. Before then, a trustee ensures that the money is used for qualified expenses, such as educational and medical costs.
If you have a special needs child, however, his or her requirements can be quite different. Some children qualify for government assistance and if the money is placed into a regular trust, it might have to be drained before he or she qualifies for any government assistance. A special needs trust can’t be touched, which can help protect assets, while still allowing the child to qualify for help.
Who Can Help With These Issues?
Some parents think that they can simply download a few forms off the Internet and have trust and guardianship papers completed in just a few minutes. However, this is a terrible idea. You’re protecting what’s most precious in your life — your children. For this reason, it’s important that you contact an experienced estate lawyer. He or she will be able to help you determine what your family requires so that your children will be taken care of after you’re gone.
To find a local estate planning attorney, ask your friends, coworkers and family members if they have any recommendations. Having a personal recommendation can help ensure that you’ll be pleased with the service from an attorney and that you can be sure that your family is protected.