Estate Planning Strategies to Help Loved Ones With Special Needs

As the parent of a special needs child, it is common to end up worrying about what will happen to the child if you die or become incapacitated. You understandably want to do whatever you can to make sure that the child’s future remains stable in case something happens to you.  This article reviews some of the critical estate planning issues you should take into consideration when it comes to children with special needs.  Determine Your Purpose for Estate Planning Special needs planning is unique because it must take any public benefits that the child receives into consideration. This planning can be utilized for several reasons including helping the child manage money throughout the child’s lifetime, protecting the child so he or she remains eligible for public benefits, and ensuring that funds are preserved in case public funding ever stops or becomes restricted. Utilize the Best Planning Method Available There are several estate planning strategies that families can utilize to achieve their goals for special needs children. Some of these strategies include: Disinheriting the child so they can continue to receive special needs benefits. Alone, this rarely helps achieve estate planning goals. Granting your estate to the brothers and sisters [...]