Westerville Special Needs Estate Planning
Always ensuring the necessary support and services for your special needs child has been your goal as a parent or guardian. Whether itโs collaborating with Westerville schools on an appropriate educational plan or seeking government help, caring for someone with developmental or physical disabilities is a significant responsibility. This commitment to care and advocacy persists even when you can no longer provide it. Death or incapacity may prevent you from caring for your loved one, highlighting the need for a comprehensive estate plan for the future.
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 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.
The Framework for Your Special Needs Estate Plan
Given that your special needs dependent might not be capable of advocating for themselves upon your departure, itโs important to codify your wishes and organize all the relevant documents in a file box that can be easily located. The organization of this information and the initiation of a comprehensive special needs estate planning process should not be postponed. When you consult with our special needs planning attorney, weโll verify whether your file encompasses 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, 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.
- A list of major assets such as insurance policies, investments, and bank accounts, and 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.
Weighing the Importance and Practicality of a Special Needs Trust
Due to their disability and lack of personal financial possessions, your special needs child or dependent likely qualifies for a variety of government benefits to help with their care and medical needs. But if you pass on and leave your wealth to your child, assuming it would provide the necessary financial backing, you might unknowingly do more harm by disqualifying them from these essential 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.
Get Started on Your Estate Plan Today
Our experienced estate planning attorney can help you plan for the future and improve life for your special needs child now. Contact us today to discuss how we can help you. The future holds a lot of uncertainty, but your childโs care doesnโt have to be one of them.