No one will take better care of your child than you.  However, with proper planning, you can make sure your wishes for the care of your special needs child are carried out even after you die.

You need to consider how to fund and plan the care of your special needs child after you depart this earth.  Wise parents think through key questions regarding how to take care of their child even when alive.

However, you also need to think through the financial planning aspects unique to special needs children.  Otherwise, you run the risk of your child suffering inadequate care.

Fortunately, you can take action to increase your prospects for success.

Faulty Planning Could Ruin Your Special Needs Child’s Life

Merely having enough assets to support your special needs child will not guarantee success.

Many families with special needs children receive government funding.  Programs such as Supplemental Security Income (SSI) and Medicaid fund adults with needs as well as children.

However, bequeathing your child an inheritance upon your death might actually do more harm than good for a couple of reasons:

1. Your child will lose eligibility for government benefit if their wealth exceeds minimum thresholds. That means your child might not be able to afford the quality of paid care you would like them to continue to receive.
2. There is a real risk that your special needs child could end up in poverty after you are gone. Expecting your special needs child to manage sudden wealth is a risk proposition, especially when so many of their peers end up blowing their money in a short period of time. Do not underestimate the risk of others with impure motives to try to steal your child’s inheritance.  Some greedy people, including relatives, caregivers, and new “friends”, might try to take advantage of your special needs child.   Safeguard your child from these predators.

Prudent Planning Can Help to Look after Your Special Needs Child Long after You Are Gone.

So what can you do?

1. Make sure you have a will and/or trust that is current.
2. Investigate whether you should open a special needs trust. You should confer your inheritance to the trust, not directly to your special needs child, as beneficiary.  The trust will provide for the child’s needs in accordance with your instructions.  Additionally, your special needs child is still likely to qualify for continued government assistance.[1]
3. Formulate specific instructions in the trust for your child’s future care. Some questions to ask include:
   • Will your special needs child require daily custodial care?
   • If your child will remain at home, will your home need special improvements (elevator, exercise gym)?
   • What about continuing medical treatments?
   • Should you child stay alone or in a group facility?
   • Can some other family member assist in care?
4. Identify other people (perhaps including other family members) who will be involved in the future care of your special needs child
   1. Guardian – identify someone who will be the primary caregiver for your special needs child. Outline their responsibilities under a “Letter of Intent”.
   2. Trustee – someone who is trustworthy and capable of making sure funds are managed properly and disbursed to fund the care of your special needs child.

Care for your Special Needs Child Now and Well into the Future.

Planning for your special needs child can be complex.  With proper planning and assistance from qualified professionals, you can gain hope that your special needs child will receive the care needed even well after you depart this earth.  That is a legacy worth living for.

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[1] Using a trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional who is familiar with the rules and regulations.

The post How Will You Provide for Your Special Needs Child after You Die? appeared first on AWM.

According to the US Census Bureau, nearly 57 million Americans possess a wide range of special needs.  That equates to nearly 1 in 5 Americans [source]. Furthermore, 80% of people with disabilities are unable to support themselves through steady work [source].

Furthermore, the Census Bureau estimates that over 1 in 4 American families care for a special needs child (or adult). [source]

In other words, many American families face a special opportunity to care for special needs children.  They need to think about financial planning for caring for their child now and after the parents are long gone.  Parents also need to think about the actual physical care of their special needs child.  Here are 3 questions to consider:

1. Should You Enlist Help or Assume the Challenge by Yourself?

   Most parents would prefer to care for their special needs children alone.  Yet, reality often dictates that they might need help.  You cannot overestimate the intensity of demands on your time.  Special needs children can place extra physical, financial, and emotional demands on you.

   Family caregivers can receive a breather from home-health aides.  One wise piece of advice is to discern between individuals who work directly with families versus those working for a company.  Independent aides often are less expensive to employ.

   Enlisting the help of home aides might even allow you to make more money to support your care for a special needs child.  Sharing the burden with an aide might allow a family member to earn outside income that more than pays for the cost of a hired aide.

   More complex situations might require an extended care facility.

   Investigate the variety of private and public resources available to help you through all phases of caring for your special needs child.

2. Can You Trust Someone Else to Care for Your Special Needs Child?

   You always should research thoroughly any outside help for caring for your special needs child.

   Questions to ask individual caregivers include:

   • Their skills, experience, and education.
   • Does the candidate relate well to what your child needs?
   • Does the caregiver possess certification?
   • Ask questions pertinent to your child’s situation.
   • Look out if the candidate truly cares or else simply sees your child as another job.
   • Ask for references from other families.

   You should also interview a care facility with similar goals in mind.

   • Can the facility care for your child?
   • Will they care for your child with compassion?
   • Are there any accusations of abuse or neglect?
   • What is the ratio of staff-to-patients?
   • What is their call response time?
   • Does the facility offer round-the-clock supervision?
   • What sorts of activities do they provide?
   • Would your child fit in with the other patients in the facility?
   • Does the facility have accreditation?
   • What about employee turnover?

   Naturally, you also should seek references for a facility.

   You might also consider working with someone on a short-term, trial basis to verify if they are the right fit for your child.

3. Is Your Special Needs Child Getting the Care They Need?

   Even if you enlist someone else’s help, you still have the responsibility for the ultimate success of caring for your special needs child.

   Having regular meetings with the caregiver and asking questions can help you answer this question. Feel free to volunteer time or participate in activities.  This is another way for you to understand the quality of care.  Your direct participation also sends a strong message both to your caregiver and your child.

   Getting to know other families with special needs children can educate you on best practices for caring.

   We would be happy to come alongside your journey in caring for your special needs child.

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