Shields and Boris Blog on Elder Care, Health Care, and Caring in General

Five estate planning mistakes made by parents with special needs children

Parents of special needs children are often so busy that they may neglect to attend to important estate planning matters.  Unfortunately, many special needs children are left without a plan for care in place when their parents pass away – or they are left with a plan that leaves them unable to apply for the government aid they desperately need.

If you are the parent of a special needs child, ask yourself if you are making one of these common mistakes:

1. No special needs trust or any other kind of plan in place to provide care for your child after you die
2. You don’t have a life insurance policy, or you don’t have one that will provide adequately for your child
3. You have a life insurance policy but don’t know that you can take advantage of accumulated cash value in a permanent policy to pay for your child’s care
4. You’ve named your child as your beneficiary, potentially disqualifying your child for government aid
5. You’ve left your entire estate to your child, again potentially disqualifying your child for aid

You can read more about special needs trusts in our law library article “Secure your child’s future with a special needs trust” and our blog post “Could you benefit from a Special Needs Trust?”  If you would like to discuss your own situation with an estate planning attorney, please contact the Pennsylvania law offices of Shields and Boris.