Estate Planning for a Child with Special Needs: What Parents Need to Know

Estate planning is an obvious concern for all parents, but if you have a child with special needs, it’s crucial you’re aware of the unique considerations that go into planning for a child who may be dependent on you at some level for their lifetime. If your child has special needs, you must understand exactly what’s necessary to provide for the emotional, physical, and financial needs of your child, in the event of your own eventual death or potential incapacity.

It takes a lot of courage to face that we may not be around forever. Especially for parents who have children with special needs. That’s why the first and most critical step in ensuring the future well-being of your child with special needs is to name both short and long-term legal guardians to take custody of and care for your child in the event of your death or incapacity.

When creating your estate plan, there are two major considerations for you to focus on: 1) Who would care for your child if and when you cannot (also known as guardianship), and 2) How will your child’s financial needs be met when you aren’t there to meet them.??

Being a parent of a child with special needs and deciding the lifetime responsibility for someone else to care for your child likely feels overwhelming. Please know you’re doing the right thing and making a loving choice for your child by setting up their protection.?

I’ve been told repeatedly by my clients who have a child with special needs that naming legal guardians and knowing their child will be cared for in the way they want, by the people they want, creates an immense sense of relief.

We’ll assist you in passing on the financial assets needed for your child to have a rich quality of life, without jeopardizing his or her eligibility for government benefits. We’ll also support you in finding and appointing a legal guardian and/or trustee to ensure your child is protected and provided for in the exact manner you wish when you die or if you become incapacitated.?Contact me today?to get started.

AB Law, PLLC is a full-service business law and estate planning firm that serves clients throughout Texas. All consultations are free and no question is too silly, ridiculous, or complex.?https://calendly.com/ablawpllc?www.ab-firm.com