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Making a Will Can Protect Your Child With Special Needs
Parents of a child with a disability face numerous challenges and concerns. One 2022 study found that among these parents’ biggest worries was what would happen to their children if they got sick. They wonder what will happen to their children if they can no longer provide their care and support. Another survey revealed that 69 percent of special needs families expressed fear about providing lifetime assistance to their disabled dependents.
Making a will and other important estate planning documents are among the steps you can take to help alleviate these concerns. A well-drafted estate plan can help ensure that your loved one with special needs has financial protection and continued support.
Barriers to Estate Planning
Creating a will is an integral part of planning for the future. Yet two out of three Americans have no will or estate planning document, according to Caring.com’s 2023 Wills and Estate Planning Survey.
Some respondents to this survey reported that they do not have enough assets to leave behind. Others cited procrastination as the reason for avoiding estate planning. Still others expressed confusion about how to make a will.
Don’t Delay Making a Will
Forty-one percent of survey participants indicated that they would delay making a will until they experienced a health diagnosis or concern. However, you may be putting your loved one with special needs at great risk if you delay making a will.
Avoid waiting until your health, or the health of your loved one with special needs, worsens. Having a will and estate plan in place ahead of time can make navigating health challenges easier. If you prepare for the future, you won’t have to rush to make arrangements or risk passing away without a will.
Power of Attorney
As part of your estate plan, you also execute a power of attorney (POA). This legal document allows you to designate someone to make decisions for you if you cannot do so.
You may, for example, become unable to handle your own affairs due to unexpected circumstances, such as serious illness or injury. In this case, the individual you named in the power of attorney may have to step in. They might manage financial support for your loved one with disabilities, making financial transactions on your behalf. You would therefore want to appoint someone you trust implicitly to serve in this role.
For someone with a disability, having a power of attorney in place can help preserve their autonomy. Imagine that you face an adverse health event and there is no power of attorney in place. The court may need to appoint a guardian to make decisions for your loved one.
Note that individuals with medical needs can also name a health care power of attorney. This appointee is someone who can represent their best interests when it comes to medical care.
Guardianship: Selecting Someone to Care for Your Child
In addition to creating a will, you also may wish to name someone to become your child’s guardian. You can determine who will care for your child and ensure that your child’s guardian is someone you trust.
Special Needs Trust
While a will is a basic estate planning document that can help you provide for your loved one with special needs after you pass, a trust can also protect their assets. Making a special needs trust includes appointing a responsible individual to act as the trustee.
The trust can pay for things public benefits do not cover, such as recreation and education. At the same time, a trust preserves your loved one’s ability to qualify for public benefits. Setting up a special needs trust can also ensure that they receive continued support during their lifetime.
Contact a Special Needs Planning Attorney
Make-a-Will Month is an important reminder to take steps toward securing your loved one’s future. Work with an attorney to create a plan that protects your loved ones with disabilities into the future.
In addition to helping you create a will, a qualified attorney can assist you with making a comprehensive estate plan. This could include executing power of attorney documents and setting up a special needs trust for your loved one. Contact a special needs planning attorney in your area today.
You may also want to review the following related articles:
The Court of Appeal of the State of California holds that an omitted spouse is not entitled to a share of her husband’s Individual Retirement Account (IRA) because the IRA is a nonprobate asset passing directly to separate trusts. In...
A roundup of elder law news and practice development articles culled from news sources across the nation during the week of October 22, 2024, to October 28, 2024.
Parents of a child with a disability face numerous challenges and concerns. One 2022 study found that among these parents’ biggest worries was what would happen to their children if they got sick. They wonder what will happen to their children if they can no longer provide their care and support. Another survey revealed that 69 percent of special needs families expressed fear about providing lifetime assistance to their disabled dependents.
Making a will and other important estate planning documents are among the steps you can take to help alleviate these concerns. A well-drafted estate plan can help ensure that your loved one with special needs has financial protection and continued support.
Barriers to Estate Planning
Creating a will is an integral part of planning for the future. Yet two out of three Americans have no will or estate planning document, according to Caring.com’s 2023 Wills and Estate Planning Survey.
Some respondents to this survey reported that they do not have enough assets to leave behind. Others cited procrastination as the reason for avoiding estate planning. Still others expressed confusion about how to make a will.
Don’t Delay Making a Will
Forty-one percent of survey participants indicated that they would delay making a will until they experienced a health diagnosis or concern. However, you may be putting your loved one with special needs at great risk if you delay making a will.
Avoid waiting until your health, or the health of your loved one with special needs, worsens. Having a will and estate plan in place ahead of time can make navigating health challenges easier. If you prepare for the future, you won’t have to rush to make arrangements or risk passing away without a will.
Power of Attorney
As part of your estate plan, you also execute a power of attorney (POA). This legal document allows you to designate someone to make decisions for you if you cannot do so.
You may, for example, become unable to handle your own affairs due to unexpected circumstances, such as serious illness or injury. In this case, the individual you named in the power of attorney may have to step in. They might manage financial support for your loved one with disabilities, making financial transactions on your behalf. You would therefore want to appoint someone you trust implicitly to serve in this role.
For someone with a disability, having a power of attorney in place can help preserve their autonomy. Imagine that you face an adverse health event and there is no power of attorney in place. The court may need to appoint a guardian to make decisions for your loved one.
Note that individuals with medical needs can also name a health care power of attorney. This appointee is someone who can represent their best interests when it comes to medical care.
Guardianship: Selecting Someone to Care for Your Child
In addition to creating a will, you also may wish to name someone to become your child’s guardian. You can determine who will care for your child and ensure that your child’s guardian is someone you trust.
Special Needs Trust
While a will is a basic estate planning document that can help you provide for your loved one with special needs after you pass, a trust can also protect their assets. Making a special needs trust includes appointing a responsible individual to act as the trustee.
The trust can pay for things public benefits do not cover, such as recreation and education. At the same time, a trust preserves your loved one’s ability to qualify for public benefits. Setting up a special needs trust can also ensure that they receive continued support during their lifetime.
Contact a Special Needs Planning Attorney
Make-a-Will Month is an important reminder to take steps toward securing your loved one’s future. Work with an attorney to create a plan that protects your loved ones with disabilities into the future.
In addition to helping you create a will, a qualified attorney can assist you with making a comprehensive estate plan. This could include executing power of attorney documents and setting up a special needs trust for your loved one. Contact a special needs planning attorney in your area today.
You may also want to review the following related articles:
Making a Will Can Protect Your Child With Special Needs
<p><span style="font-size:14.0pt"><span style="color:#0e101a"><img alt="Child wearing eyeglasses smiling in the arms of his mother." src="https://cdn.elderlawanswers.com/common/uploads/photos/19918-Child wearing eyeglasses smiling in the arms of his mother shutterstock_1589994661.jpg" style="float:right; height:200px; margin-left:10px; margin-right:10px; width:300px" />August signifies National Make-a-Will Month. For the </span></span><a href="https://pubmed.ncbi.nlm.nih.gov/25428686/" target="_self"><span style="font-size:14.0pt"><span style="color:#4a6ee0">one in five families who care for children with special needs</span></span></a><span style="font-size:14.0pt"><span style="color:#0e101a">, estate planning is crucial. </span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">Parents of a child with a disability face numerous challenges and concerns. One 2022 </span></span><a href="https://static1.squarespace.com/static/5e7cf2f62c45da32f3c6065e/t/62966e54e53a554cb824c4a1/1654025812975/Widening+disparities+factsheet+May+2022.pdf" target="_self"><span style="font-size:14.0pt">study</span></a><span style="font-size:14.0pt"><span style="color:#0e101a"> found that among these parents’ biggest worries was what would happen to their children if they got sick. They wonder what will happen to their children if they can no longer provide their care and support. Another </span></span><a href="https://specialneedsplanning.net/statistics/" target="_self"><span style="font-size:14.0pt">survey</span></a><span style="font-size:14.0pt"><span style="color:#0e101a"> revealed that 69 percent of special needs families expressed fear about providing lifetime assistance to their disabled dependents. </span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">Making a will and other important estate planning documents are among the steps you can take to help alleviate these concerns. A well-drafted estate plan can help ensure that your loved one with special needs has financial protection and continued support. </span></span></p>
<h2><strong><span style="font-size:14.0pt">Barriers to Estate Planning </span></strong></h2>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">Creating a will is an integral part of planning for the future. Yet two out of three Americans have no will or estate planning document, according to </span></span><a href="https://www.caring.com/caregivers/estate-planning/wills-survey/" target="_self"><span style="font-size:14.0pt"><span style="color:#4a6ee0">Caring.com’s 2023 Wills and Estate Planning Survey</span></span></a><span style="font-size:14.0pt"><span style="color:#0e101a">. </span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">Some respondents to this survey reported that they do not have enough assets to leave behind. Others cited procrastination as the reason for avoiding estate planning. Still others expressed confusion about how to make a will. </span></span></p>
<h2><strong><span style="font-size:14.0pt">Don’t Delay Making a Will </span></strong></h2>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">Forty-one percent of survey participants indicated that they would delay making a will until they experienced a health diagnosis or concern. However, you may be putting your loved one with special needs at great risk if you delay making a will. </span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">Avoid waiting until your health, or the health of your loved one with special needs, worsens. Having a will and estate plan in place ahead of time can make navigating health challenges easier. If you prepare for the future, you won’t have to rush to make arrangements or risk passing away without a will. </span></span></p>
<h2><strong><span style="font-size:14.0pt">Power of Attorney </span></strong></h2>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">As part of your estate plan, you also execute a </span><a href="https://www.elderlawanswers.com/what-is-a-power-of-attorney-15047" target="_self">power of attorney</a><span style="color:#0e101a"> (POA). This legal document allows you to designate someone to make decisions for you if you cannot do so. </span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">You may, for example, become unable to handle your own affairs due to unexpected circumstances, such as serious illness or injury. In this case, the individual you named in the power of attorney may have to step in. They might manage financial support for your loved one with disabilities, making financial transactions on your behalf. You would therefore want to appoint someone you trust implicitly to serve in this role.</span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">For someone with a disability, having a power of attorney in place can help preserve their autonomy. Imagine that you face an adverse health event and there is no power of attorney in place. The court may need to appoint a guardian to make decisions for your loved one. </span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">Note that individuals with medical needs can also name a health care power of attorney. This appointee is someone who can represent their best interests when it comes to medical care. </span></span></p>
<h2><strong><span style="font-size:14.0pt">Guardianship: Selecting Someone to Care for Your Child</span></strong></h2>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">In addition to creating a will, you also may wish to name someone to become your child’s </span><a href="https://www.specialneedsanswers.com\three-essential-documents-for-parents-of-children-with-special-needs-14335" target="_self">guardian</a><span style="color:#0e101a">. You can determine who will care for your child and ensure that your child’s guardian is someone you trust. </span></span></p>
<h2><strong><span style="font-size:14.0pt">Special Needs Trust</span></strong></h2>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">While a will is a basic estate planning document that can help you provide for your loved one with special needs after you pass, a trust can also protect their assets. Making a </span><a href="https://www.specialneedsanswers.com\what-is-a-special-needs-trust-17719" target="_self">special needs trust</a><span style="color:#0e101a"> includes appointing a responsible individual to act as the trustee. </span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">The trust can pay for things public benefits do not cover, such as recreation and education. At the same time, a trust preserves your loved one’s ability to qualify for public benefits. Setting up a special needs trust can also ensure that they receive continued support during their lifetime. </span></span></p>
<h2><strong><span style="font-size:14.0pt">Contact a Special Needs Planning Attorney </span></strong></h2>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">Make-a-Will Month is an important reminder to take steps toward securing your loved one’s future. Work with an attorney to create a plan that protects your loved ones with disabilities into the future.</span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">In addition to helping you create a will, a qualified attorney can assist you with making a comprehensive estate plan. This could include executing power of attorney documents and setting up a special needs trust for your loved one. Contact a <a href="https://www.specialneedsanswers.com\USA-special-needs-planners" target="_self">special needs planning attorney</a> in your area today.</span></span></p>
<p><span style="font-size:14.0pt"><span style="color:#0e101a">You may also want to review the following related articles:</span></span></p>
<ul>
<li><a href="https://specialneedsanswers.com/a-short-introduction-to-special-needs-planning-14593" target="_self"><span style="font-size:14.0pt"><span style="color:#0e101a">What to Know Before Beginning Special Needs Planning</span></span></a></li>
<li><a href="https://specialneedsanswers.com/five-planning-pointers-for-parents-with-children-with-special-needs-13851" target="_self"><span style="font-size:14.0pt"><span style="color:#0e101a">Five Planning Pointers for Parents With Children With Special Needs</span></span></a></li>
<li><a href="https://specialneedsanswers.com/does-your-estate-plan-put-your-child-at-risk-13359" target="_self"><span style="font-size:14.0pt"><span style="color:#0e101a">Does Your Estate Plan Put Your Child at Risk?</span></span></a></li>
</ul>
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