4 Steps to Protecting a Child with Disabilities
Raising a child is expensive and can cost a quarter of a million dollars, not including college. For a child with special needs, that cost can more than double.1 如果你是有特殊需要的孩子的父母, it’s vital to ensure your child will continue to be provided for after you’re gone. 这可能很难去思考, 但与耐心, 爱, 和毅力, a long-term strategy is attainable and can help bring some peace of mind.
Just as every child with special needs is unique, so too are the challenges facing their families when planning for the long term. Think about the potential needs of your child. 他们是否需要每天的监护? 正在进行医学治疗? Will your child live alone or in a group home? 家庭成员可以承担部分照料吗? Answers to these and other questions can help form the vision of what may need to be done to plan for your child’s care.
Without proper planning, your child’s lifetime needs can quickly outstrip your funds. 一种资源是政府福利, such as Supplemental Security Income (SSI) and Medicaid, which your child may qualify for depending on their situation. Because such government programs have low-asset thresholds for qualification, you may want to consider whether to make property transfers to your special needs child.
You should also make sure you have an up-to-date will that reflects your wishes. 考虑创建一个特殊需求信任, the assets of which can be structured to fund your child’s care without disqualifying them from government assistance.2
All affected family members should be involved in the decision-making process. 如果可能的话, it’s best to have a united front of surviving family members to care for your child after you’ve passed on.
In order for a caregiver to make financial and health care decisions after your child reaches adulthood, 必须指定照顾者为监护人. This can take time, so start setting this in motion as soon as you can.
要做到这一点, you can write a “Letter of Intent” to the caregiver and family to express your wishes along with information about your child’s care. This isn’t a legal document, but it may help to communicate your desires. Store this letter alongside your will, in a safe place.
Planning for a child with special needs can be complicated and overwhelming, 但你不必孤军奋战. Working with 爱d ones and qualified professionals can help you navigate the various facets of this challenge. If we can help, please don’t hesitate to reach out.
1. Policygenius 2019
2. Using a trust involves a complex set of tax rules and regulations. 在继续信托之前, consider working with a professional who is familiar with the rules and regulations.
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