Special Needs Estate Planning Lawyer Columbus Ohio
As a parent or guardian of a special needs individual, youโve always striven to provide them with the necessary support and services. Whether collaborating with their Columbus-area schools for a suitable education plan or seeking government aid, caring for someone with developmental or physical disabilities is no easy feat. The need for this care and advocacy doesnโt cease when youโre unable to provide it. There might come a time when you canโt look after your loved one due to death or incapacity. Hence, making an estate plan for the future is crucial.
In estate planning, special needs is a broad category of documents and tools to protect individuals with a range of physical disabilities, medical conditions, intellectual difficulties, or emotional problems, including learning difficulties and behavioral problems. The experienced Columbus estate planning attorneys at Jarvis Law Office understand the unique challenges facing families caring for a special needs child or adult, and we will guide you through the process of protecting their future with a special needs trust.
How to Craft Your Estate Plan for Special Needs Dependents
Your special needs dependent may not have the ability to advocate for themselves once youโre no longer around. Therefore, itโs important to record your wishes and systematically arrange all pertinent documents in an easily accessible file box. Itโs never too early to organize this information and initiate a thorough estate planning process. During your meeting with our Columbus special needs estate planning attorney, weโll ensure your file contains the following:
- Guardianship documents naming the person or people appointed to care for the child or disabled person when you canโt.
- Important legal documents, such as birth certificates, Social Security cards, medical records, prescriptions, and health insurance cards.
- A Letter of Intent is a non-binding document that gives vital information about the child with special needs to his or her future caregivers. This can be details like your childโs sleeping preferences, eating habits and favorite foods, activities and hobbies, and other things that impact his or her routine.
- Copies of your own advanced health care and financial directives such as powers of attorney, living wills, and health care proxies.
- This is a list of major assets, such as insurance policies, investments, and bank accounts, along with information about where they are located.
- A list of government benefits your child may receive, as well as copies of completed applications and contact information for caseworkers with whom you have worked.
- Other documentation, like tax returns for your child and information about housing and educational programs to assist future caregivers.
- Copies of special needs trusts, living, or insurance trusts that may be in effect.
This file will need to be updated regularly to allow for changes in your dependentโs age, skills, and living situation.
The Importance of a Special Needs Trust: A Consideration
Your child probably qualifies for several government assistance programs due to their special needs, providing help for their care and medical necessities. This eligibility is based on their disability and the fact that they donโt possess financial assets. However, if you pass away and bequeath your assets to your child to financially support them, it could inadvertently disqualify them from these crucial benefits.
By establishing a special needs trust, however, you can enhance your dependent childโs future quality of life without affecting their access to important benefits. In fact, you can take advantage of a special needs trust even during your lifetime. You can use money from this type of trust to:
- Cover out-of-pocket medical expenses
- Pay for additional assistance in the home
- Purchase assistive devices that are not covered by Medicaid
- Cover the cost of private tutoring or other educational programs
- Pay for life-enhancing activities such as theme park admission, movies, athletic teams, vacations, and more
Your child will not lose access to these need-based government benefits as long as the trust money is not used to pay for medical care, food, and housing.
Reach Out to Jarvis Law Office Today to Begin Your Journey
A lawyer knowledgeable in special needs estate planning can assist you in preparing for the future and improving your childโs current situation. Contact us today in Columbus, Ohio, to discuss how we can be of service. The future may be unpredictable, but your childโs care and future security shouldnโt be uncertain.