Planning for the care of loved ones with special needs certainly tops the list of emotionally-charged topics. The mere idea wrenches the heart of any parent, if untimely death or disability strikes, who will care for your children? The peace of mind parents gain from a well-designed estate plan, more than compensates them for having to plan for the unthinkable.
How A Special Needs Trust Works
A Special Needs Trust allows a parent, grandparent or guardian to provide funds for a disabled child without disrupting the child�s eligibility for government aid. Setting one up is a fairly simple process.
Important points to remember while investigating the use of this estate planning tool are:
- Decide on an appropriate guardian for your child.
- Determine who would be a suitable trustee(s) to manage the trust's assets and supervise your child's finances.
- Outline instructions for your child's education, housing and other personal needs.
Imperative planning considerations for Special Needs families are covered in far more detail in our free report entitled, "A Special Child Needs Special Planning." You may also click here to view all available Special Reports.
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Helpful links for Government benefits and other useful information.