If you have children, you know how important it is to plan for them in the event of your unexpected death. While no one really wants to think about this possibility, you never know what the future holds, so it is vital that you make arrangements to find out who will take care of your children after you are 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 well cared for.
What is guardianship?
In typical situations, parents will appoint a guardian, someone who will care for their children until they turn 18 years old. However, in families with children with special needs, sometimes the responsibility does not end when the child turns 18. Depending on the child’s requirements, he or she may require full-time medical care or assistance long after the age of 18.
Guardianship of a child with special needs can require a great deal of patience, which means that you must select your guardian carefully. In many cases, parents who have performed these daily care tasks have support systems in place, but guardians who are pushed into this position may not have the patience, support, or coping mechanisms to care for a child. with special needs. . Before appointing someone, make sure you fully understand what guardianship could mean to your day-to-day life.
Why is a special needs trust important?
A regular trust can help support your dependents after you are gone. The money is placed in a trust, where it is held until the child reaches a specific age, usually 18, 21, or 25. Before that, a trustee makes sure the money is used for qualified expenses, such as educational and medical expenses. .
However, if you have a child with special needs, their requirements can be quite different. Some children qualify for government assistance and if the money is placed in a regular trust, you may have to drain it before he or she qualifies for any government assistance. A special needs trust cannot be touched, which can help protect assets, while also allowing the child to qualify for assistance.
Who can help with these problems?
Some parents think that they can simply download some forms from the Internet and complete the trust and guardianship documents in just a few minutes. However, this is a terrible idea. You are protecting the most precious thing in your life: your children. For this reason, it is important that you contact an experienced real estate attorney. He or she can help you determine what your family needs for your children to be cared for after you are gone.
To find a local estate planning attorney, ask your friends, co-workers, and family for any recommendations. Having a personal recommendation can help ensure that you will be satisfied with an attorney’s service and that you can be sure that your family is protected.