Planning with Purpose: How Estate Planning Supports Families with Special Needs Children

Estate planning is one of the most effective ways to safeguard our family’s future, giving us peace of mind knowing that our loved ones are protected. When we have children with special needs, thoughtful planning becomes even more essential. Estate planning ensures that we can address their unique needs and provide them with stability and security. It’s crucial to plan correctly from the start, setting up structures that will protect and support our family for years to come.

Some key steps to consider when creating a plan for families with special needs children include:

Establishing a Special Needs Trust: Creates a secure fund to cover your child’s additional needs without impacting eligibility for government programs. This trust allows you to set aside assets specifically for your child’s care, such as medical expenses, educational needs, or recreational activities, while preserving their access to vital public benefits. A Special Needs Trust can be tailored to fit the unique needs of your child and ensure their financial security.

Appointing a Guardian: Designates a trusted person to care for your child if you are unable to do so. This decision helps provide continuity in your child’s life, maintaining their routines, values, and support system. Selecting a guardian who understands and respects your child’s needs, including any special requirements, ensures they receive the attention and protection they deserve.

Designating a Trustee: Selects a reliable individual or institution to manage the trust’s assets in a way that prioritizes the child’s best interests. The trustee is responsible for making decisions about distributions, handling investments, and ensuring that funds are used to support the child’s current and future needs without jeopardizing eligibility for government benefits. Choosing the right trustee is crucial for maintaining financial stability and oversight.

Drafting a Letter of Intent: Provides a detailed roadmap for future caregivers or guardians, covering essential information about your child’s daily routines, medical history, preferences, and unique needs. This document allows you to communicate your wishes for your child’s care, from healthcare and education to social and emotional support. It serves as a guide to ensure continuity in your child’s life and maintain the quality of care you would want for them.

Coordinating with Government Benefits: Ensures that your child’s eligibility for essential benefits, such as Supplemental Security Income (SSI) or Medicaid, is not disrupted by inherited assets or other financial resources. Proper planning can help maximize support from these programs while safeguarding additional assets for your child’s future needs.

Creating a well-crafted estate plan is one of the most effective ways to ensure your family’s needs are fully supported. Contact The Estate Planning Law Office of Jonathon L. Petty, Inc. to explore customized options tailored to your family’s unique dynamics and goals. Call us at 559-374-2223 or fill out our online form, and we’ll connect with you to schedule a convenient appointment.