In estate planning, special needs children require special consideration. You’ll need to assess how your child will be able to function in the world as they age. There are many questions to answer, including: What is the child’s long-term prognosis What type of care is anticipated to meet their needs?
Tag: Special needs planning
A special needs trust (SNT) is usually created and funded by the grantor (the person who creates the trust). However, it is crucial to choose a successor trustee who will continue properly managing the SNT to benefit the individual with special needs. When selecting a reliable, honest, and capable successor
You need to take practical and legal steps to plan for your child’s transition to adulthood as they turn eighteen. Begin well before their birthday to ease the transition and ensure they continue receiving their government benefits as an adult. If they require life planning and decision-making oversight, parents need
A third-party special needs trust, also known as a supplemental needs trust, is an estate planning tool for parents of kids with mental/physical disabilities and the elderly. This type of trust will receive assets from you or another benefactor expressly for that person with a disability. Goals include: leaving
The prevalence of autism is on the rise in the US. Because the condition first manifests itself before the age of 3, the majority of people receiving new diagnoses are under the age of 6. Autism spectrum disorder (ASD) refers to a broad range of behavioral conditions that include challenges