When parents have a child with disabilities, one of the most important questions they ask themselves is, "What is going to happen to my child when I am no longer here?" Children with disabilities are living longer, making it essential for parents to plan for their child's long term support and well being.
There are several different types of trusts that can be established—self-funded trusts, 1st and 3rd party trusts, pooled trusts, etc. It can be quite complicated and overwhelming. Furthermore, an improperly created trust could comprise the individual's eligibility for public benefits.
An attorney who specializes in estate planning for families with a child with special needs can help families establish a special needs trust and life plan. Insurance agents, financial planners, and other financial professionals who specialize in needs planning, guidance counselors and other parents of children with special needs also are good resources.
The following resources provide more information about life and financial planning for people with disabilities. Talk to families that receive services from your affiliate and make sure they are aware of this most important topic.
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