St. Clairsville Special Needs Estate Planning
It’s always been your mission to prioritize the needs and support of your special needs child. It is a significant undertaking involving collaboration with their St. Clairsville school for an appropriate education plan and obtaining government assistance. However, the day may come when you’re unable to continue these efforts due to death or incapacity. That’s why it’s important to establish an estate plan, anticipating whatever the future may bring.
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.
Structuring Your Estate Plan for a Special Needs Dependent
As your special needs dependent may not be capable of self-advocacy after your departure, it’s imperative to document your wishes and collate all relevant documents in a file box that can be found easily. The sooner you organize this information and commence a comprehensive estate planning process, the better. When you engage with our St. Clairsville special needs estate planning attorney, we’ll determine that your file incorporates the following:
- Guardianship documents naming the person or people appointed to care for the child or disabled person when you can’t.
- Important legal documents include 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 child’s 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 dependent’s age, skills, and living situation.
The Merits of Establishing a Special Needs Trust
Due to your child’s disability and lack of personal financial assets, he or she is likely eligible for diverse government aid to help with care and medical requirements. 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 than good by disqualifying them from these essential benefits.
By establishing a special needs trust, however, you can enhance your dependent child’s 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.
Begin Your Special Needs Estate Planning with Jarvis Law Office
With the help of our experienced special needs estate planning attorney, you can plan for the future and enhance your child’s present circumstances. If you’re in the St. Clairsville area, reach out to us today to discuss how we can help organize your special needs estate plan. Although the future is uncertain, your child’s care doesn’t have to be.
