As our children with disabilities grow older, and we ourselves grow older, the future can seem daunting. The future can be overwhelming. Taking steps to plan for the future can seem way too complicated, especially when you don’t know where to start.
A special needs trust allows the beneficiary–your family member–to receive government benefits, while still receiving funds from the trust.
If asked to be a trustee, anyone, unless previously experienced in this field would not know what the responsibilities are. How much work is involved? What is the time frame? Do I need to prepare tax returns and handle accounts? Can I get help? When do my responsibilities end?
Anyone with a child with special needs understands the need to prepare for the future. A trust is always a good place to start, and figuring out a savings goal for that trust is a key part to your planning.
The state will most likely be happy to do it for you after you die. If you do not have a will or an estate
Financial planning is daunting enough, but it becomes more complicated and critical when you have a child or family member with special needs.
