Parents and families want to care for their children throughout their life time physically and financially. However, having a child with special needs requires special attention. You especially want to make sure your child qualifies for government benefits and other programs available.
Leaving retirement plans and assets to your child could greatly impact those receiving government aid. There are a few different options parents and families must protect their loved ones. In your retirement savings plan, beneficiary designation can help create flexibility and creating a special needs trust are two ways to ensure proper planning for the future.
You must ensure that your estate plan is designed properly by a trusted estate planning attorney. Securing a stable future for your loved ones is a top priority.
For more information and resources on planning for your loved one with special needs, browse through our website at specialneedsforum.org.