You know at some point you will not be around to provide care for your special needs child, which has probably already led you to consider taking out a life insurance policy that will pay out benefits to cover the care of your child. A first step is to determine how...
Special needs planning is essential for securing your loved one's future, but it is never too early to start the process. It is often in your best interest to consider special needs planning as early as possible. The sooner you begin planning, the more options will be...
For aging parents with adult children who have special needs, the need for long-term care planning is undeniable. Taking the initiative to plan ahead is a proactive approach that can benefit your family in numerous ways. 1. Financial stability Financial stability is a...
A loved one with special needs may require the help of government benefits such as Supplemental Security Income and Medicaid. However, your relative could lose out on these benefits without a special needs trust. When someone with special needs receives an inheritance...
Parents who take care of children with disabilities must consider what will happen when they can no longer provide for their loved ones. While a special needs trust can help a disabled child into adult years, different insurance policies may also offer various kinds...
If you have a friend who has a relative with a disability or other special needs, your friend may have asked you to be a trustee of a special needs trust. Before you agree to do so, though, you should know exactly what the role involves. A special needs trust is a...
All parents want to ensure that their children receive the best education possible. When you have children with special education needs, it can cause a lot of stress to determine whether the school can provide your kids with adequate education and care in an...
The fact is that most people require long-term care once they reach a certain age. According to the Administration for Community Living, 70 percent of people over 65 need some form of long-term care. You should begin planning for professional elder care sooner than...
Perhaps you have a disabled teenage son who was the victim of a serious car accident. You are considering setting up a trust to hold the financial compensation he is due to receive. According to federal and state law, those who qualify for SSI and some Medicaid...
Legal guardians and parents of a special needs child want to take care of their loved ones after they die. While a special needs trust helps them accomplish that goal, guardians and parents must understand how to make the most of the estate planning tool. With...
