Practice Areas

• Medicaid
• Living Trusts
• Estate Administration and Probate
• Asset Protection
• Veterans Benefits
• Special Needs Trust

Blog

Special Needs Trust

• IMPORTANT REPORT EVERY SPECIAL NEEDS FAMILY MUST KNOW ABOUT ESTATE PLANNING
• Planning for your autistic child’s future can bring peace of mind
• Five estate planning mistakes made by parents with special needs children
• Could you benefit from a Special Needs Trust?

view all

News

• Many special needs children lack plans for lifetime of care...
  Posted on 4/17/2009
• Importance of Special Needs Trusts Highlighted by Non-Profit...
  Posted on 3/4/2009

view all

Library

Special Needs Trust

• Part 11 of 12 - Facts Every Special Needs Family Must Know About Estate Planning
• Part 12 of 12 - Facts Every Special Needs Family Must Know About Estate Planning
• Part 9 of 12 Facts Every Special Needs Family Must Know About Estate Planning
• Part 7 of 12 - Facts Every Special Needs Family Should Know About Estate Planning
• Part 8 of 12 - FACTS EVERY SPECIAL NEEDS FAMILY MUST KNOW

view all

Part 2 of 12 - Facts Every Special Needs Family Should Know About Estate Planning

Fact # 2- You Must Have a Basic Understanding of Estate Planning

Estate Planning is the process of deciding how you want your property to be distributed during your life, and after your death, and developing the documents ensuring that your decisions are carried out. While estate planning is important for everyone, it is crucial for families with special needs children.

If you do not set up an appropriate estate plan, you lose the ability to control how your special needs child is cared for; making sure they have the assets they need and the vital government benefits; that they are receiving the habiliatative services they need; that they receive money or property they are entitled to, along with the assistance they may need to manage it. An estate plan is your best opportunity to ensure substitute assistance and guidance for your special needs child when you are no longer alive to provide it.

Simply because you have a special needs child , however, does not automatically mean that you need to be concerned with the special estate planning consideration raised in this report. Specialized estate planning is necessary only if your special needs child is unable to handle finances (either totally or partially) and/or they are at risk of losing existing or potential government benefits. Everyone’s situation is different, which is why is it good to at least review yours with an estate planning professional.

Also keep in mind that an estate plan can be changed at any time. It is usually a good idea to review your estate plan every year or two to make sure it is still achieving the goals that you have set. In addition, you should review your estate plan if a major change has occurred

to you or your family, such as divorce, re-marriage, bankruptcy or death of any immediate family member. If you establish your estate plan through Shields & Boris, there are no additional charges for changes to your plan, nor are there additional charges for any phone calls.

Special Report

Order our Pennsylvania Elder Law Attorney's Guide To Alzheimer's Care

See All

questions

Special Needs Trust

• Is there a difference between a special needs trust and a supplemental needs trust?

view all