Talking to Relatives About Guardianship of a Child with Special Needs
You can typically only choose one or two guardians for your child with special needs but this doesn't mean that you can't...
Read moreIn almost all cases where a parent will leave funds at death to a child with special needs, this should be done in the form of a trust. Trusts set up for the care of a child with special needs generally are called "supplemental" or "special" needs trusts.
Money should not go outright to the child, both because he or she may not be able to manage it properly and because receiving the funds directly may cause the child to lose public benefits, such as Supplemental Security Income (SSI) and Medicaid. Often, these programs also serve as the entry point for receiving vital community support services. In the case of SSI, at the end of 1999 Congress enacted laws making it much more difficult to create a trust for a disabled individual after she has received an inheritance, making it even more important that the parents create the trust as part of their estate plan.
Local Special Needs Planners in Your City
You can typically only choose one or two guardians for your child with special needs but this doesn't mean that you can't...
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Leaving a child with special needs out of your estate plan is almost always the wrong way to help the child.
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According to court documents, legendary singer Aretha Franklin did not have a will when she died, meaning there are no spe...
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Many parents have their retirement savings socked away in 401(k)s and IRAs.? There are ways for beneficiaries to avoid pay...
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