special needs plan

One of the greatest mistakes that many people make about special needs plans are thinking that estate planning is a one-and-done process. Even after properly appointing a guardian, trustee, health care proxy, and other necessary agents for a special needs plan, there are still circumstances that can arise and necessitate a change of these documents.    The following will review some important steps to follow to make sure that agent designations on special needs documents are properly updated.   Routinely Review Your Special Needs Plan   It is a wise idea to review your special needs agent appointment on a routine basis. It is also a good idea to stay in constant communication with your special needs agent. This is because changes inevitably occur that will change the appropriateness of your selection. The problem, however, comes in deciding how often you should review your estate planning decisions. Once a year is a reasonable guideline for reviewing these plans.    When to Change Special Need Agents   Even if you routinely review special needs documents, it can be challenging to determine exactly when to replace an agent. You should consider replacing a special needs agent any time after there has been     Read More