Parents of disabled children face unique challenges when planning for their child’s long-term care and financial security. Thoughtful estate planning ensures that children receive the necessary support while preserving access to essential benefits.
Establishing a Special Needs Trust
A Special Needs Trust (SNT) allows parents to set aside funds for their child’s care without affecting eligibility for government assistance programs. This trust ensures financial stability while covering medical, educational, and daily living expenses.
Choosing a Trustee
Selecting a responsible trustee is crucial. The trustee manages the trust and ensures that funds are used appropriately for the child’s well-being.
Drafting a Letter of Intent
A letter of intent provides detailed instructions about the child’s care, including medical needs, daily routines, and personal preferences. This document helps caregivers maintain consistency in care.
Considering Life Insurance
Naming a Special Needs Trust as the beneficiary of a life insurance policy ensures that funds are allocated specifically for the child’s future needs.
Regularly Reviewing the Estate Plan
Laws and circumstances change over time. Parents should periodically review and update their estate plan to reflect their child’s evolving needs and legal requirements.
For expert legal guidance on estate planning for disabled children, consult The Eastman Law Firm.
Contact Us Today
Name: The Eastman Law Firm
Address: 4901 W. 136th Street, Ste. 240Leawood, Kansas66224
Phone Number: (913) 908-9113
Website: www.theeastmanlawfirm.com
Planning ahead ensures financial security and peace of mind for families. Consulting an estate planning professional can help tailor solutions to individual needs.
