Having a child with special needs can add a different element to an individual’s life. Therefore, when considering end-of-life plans, Massachusetts residents may wish to consider adding additional elements to their estate plans. A special needs trust could be one potential option to consider as individuals work to create their plans.
Estate plans can play a significant role in how a special needs child is cared for in the event of one or both parents’ deaths. Therefore, individuals may wish to ensure that they create a will so that their estates are distributed as they see fit. Additionally, a will can be used to name guardians for minor children, and parties may be able to petition the court to name a guardian for a special needs person over the age of 18.
When it comes to leaving assets behind, a special needs trust could prove immensely beneficial. This type of trust will allow the child to gain access to funds without having those funds interfere with any type of government benefits he or she may be receiving. Additionally, parties can determine the terms under which the funds can be accessed.
Rather than worrying about how the care of a disabled child will be affected by a parent’s death, planning could help parties feel more in control. Information on special needs trust options, naming guardians and other related topics could help concerned Massachusetts residents plan for the future care of their children. Speaking with experienced attorneys could offer a reliable guide to such options for interested parties.
Source: hamlethub.com, “Providing a Secure Future for a Child with Special Needs”, Alisa Gaudiosi, March 14, 2017