 | Bob Rohm |
Estate planning is challenging enough, right? But you say, “God has blessed us with a special needs child whom we adore. How can we make sure that our daughter is lovingly cared for when we are not able to take proper care of her ourselves? How do we provide for her financially? How do we make sure that she is cared for legally and spiritually? We have so many questions, and we do not know where to turn!”
Do the above questions sound like conversations you have had in your home?
Many loving parents wonder how to develop estate plans that include their special needs child. How can they provide for them financially as well as insure the best care? The fact is most estate planning counselors are not equipped to deal with this specialty.
Your situation may be a bit different. You may have a spouse or other family member with special needs. Your plans need to address the needs in your particular family. But how?
Without sounding too simplistic, here is the primary solution: you need an appropriate trust. Sound overwhelming? Sound expensive? Sound way beyond your expertise?
It really is not impossible. A “special needs trust” may be just what is needed. Normally the cost is relatively small, and the benefits are outstanding. The cost of doing nothing will usually be much, much higher.
Most attorneys know little about this narrow field of estate planning. It is a specialty area. You really do not want a generalist to handle such a sensitive need. What do you do then? You cannot do what you need to do alone.
Here are some essential steps you can take:
Please do not delay. Preparing now for the future care of your family members, especially for a child with special needs, is critical. If we can help you in any way, we would be privileged to do so. Please don’t hesitate to contact us.
Do the above questions sound like conversations you have had in your home?
Many loving parents wonder how to develop estate plans that include their special needs child. How can they provide for them financially as well as insure the best care? The fact is most estate planning counselors are not equipped to deal with this specialty.
Your situation may be a bit different. You may have a spouse or other family member with special needs. Your plans need to address the needs in your particular family. But how?
Without sounding too simplistic, here is the primary solution: you need an appropriate trust. Sound overwhelming? Sound expensive? Sound way beyond your expertise?
It really is not impossible. A “special needs trust” may be just what is needed. Normally the cost is relatively small, and the benefits are outstanding. The cost of doing nothing will usually be much, much higher.
Most attorneys know little about this narrow field of estate planning. It is a specialty area. You really do not want a generalist to handle such a sensitive need. What do you do then? You cannot do what you need to do alone.
Here are some essential steps you can take:
- Develop a special needs trust as a part of your will or living trust. Again, you will need an attorney who is well experienced in these type of trusts.
- Use a wills guide to assist you in gathering the necessary information to be included in your will or living trust. One can be obtained from the Shepherds Foundation. Contact us at brohm@shepherdsministries.org or by phone at 937.766.2737.
- Contact the Special Needs Alliance (SNA) to gather the names of attorneys in your state who are dedicated to the practice of disability and public benefits law. A special needs attorney is a life care partner. These attorneys’ fees are surprisingly moderate and their expertise is top-drawer. The SNA can be reached by phone at 1-877-572-8472. Their mailing address is 7739 E. Broadway Blvd. #362, Tucson, AZ 85710. Their website address is www.specialneedsalliance.org.
Please do not delay. Preparing now for the future care of your family members, especially for a child with special needs, is critical. If we can help you in any way, we would be privileged to do so. Please don’t hesitate to contact us.
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