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 sister or brother.
Many parents assume that their other children may step up to use their inheritances or assets to provide for a sibling with special needs. While this may work in the short term even in situations where children have money to spare or financially secure, it is a risky one over the long term. For example, what happens if the siblings who are responsible for a special needs child have financial issues and are no longer able to support their special needs sibling or in a situation where they decide that their priorities have simply changed and no longer want to be able to help.
When parents have their other children to pay for the needs of the special needs sibling, they have no peace of mind that the children will care for that child as thoughtfully or as competently as someone else might. Putting together a special needs trust with the help of a knowledgeable and dedicated estate planning attorney is strongly recommended if you have a child with special needs.
