When a child has emotional, physical or mental challenges, a careful estate planning is even more important. Certain traps that many people fall into with typical estate planning could jeopardize your child’s ability to access crucial government benefits such as SSI or Medicaid. One common tripping point for many people is naming a beneficiary designation… Read More »
Posts Categorized: Special Needs Children
Planning Mistakes You Should Avoid If You Have a Special Needs Child – Part III
In this three-part series we are exploring three common mistakes that people can often make in the process of trying to support a special needs child in their life. In this particular blog post we are looking carefully at relying on siblings to use their own money in order to care for a special needs… Read More »
Key Planning Mistakes to Avoid If You Have a Special Needs Child – Part II
There are several different mistakes that you can make when you are planning ahead for a loved one who has special needs. One of the most common of these is not properly maintaining and funding a plan. When planning for any child with special needs, it is essential that appropriate assets be available for… Read More »
Major Mistakes You Want to Avoid If You Have a Special Needs Child – Part I
There are many different mistakes that you can unfortunately make in the event that you have a special needs child. This situation requires careful consideration and planning with the help of a knowledgeable estate planning attorney. Unfortunately, what seems like small mistakes at the time that you make them can lead to catastrophic problems. Read… Read More »
Estate planning mistakes if you have a special needs child
There are a number of mistakes that parents of special needs children often make when doing their estate planning. These mistakes can have long-term negative consequences for the child, says a story on finance.yahoo.com. Embed from Getty Images They include: Not properly funding and maintaining the plan. For such a child it is imperative that… Read More »
Future Care Of Disabled Family Members
Planning for family members with special needs can be overwhelming. There are so many decisions to make. View image | gettyimages.com You have to learn about government programs, name guardians in case something happens to you, and decide on what legal documents you will need. Soon, there will be a new savings account to consider,… Read More »
Special Needs, Special Planning
The financial rules are different for the 20 million American families with special needs kids. Parents of such kids can’t just name them in their wills. A story on dailyfinance.com says the key to helping special needs kids is Medicaid. But to qualify, the child cannot have assets worth more than $2,000. Even if they… Read More »
Get Your Estate Plan In Order
A column in the Wall Street Journal the other day got right to the point when it comes to estate planning: start out by making a will. It quotes a financial advisor from Illinois who says he has clients in their 40s and 50s who have never done a will. But it says there is… Read More »
How You Can Benefit From a Trust
Through a trust, a person transfers control of specified assets to a trustee, to hold for the benefit of a third party. As a recent article explains, there are many different types of trusts that can help people achieve various goals. Various forms of trust can have many different benefits. For example, if you have… Read More »
Estate Planning When You Have Children With Special Needs
For parents with special needs children, estate planning is especially important. Most special needs children will need a designated person to care for them after their parents have died. A recent article discusses several aspects of estate planning when special needs children are involved. When special needs children are involved, an estate plan should include… Read More »