Importance of Special Needs Planning
If you have a child with special needs you should have some special needs plan which is very important because it will give the child an extra layer of protection to the child. When you have the special need planning, it helps you to make plans for the future of the child who is disabled or a family member who is disabled this will help you to have a peace of mind because you know no matter what happens things will be under control. At times family members find it hard to do this process because at times it can be devastating and confusing. When you have decided to have the special need planning, it is the best decision that you can make, this is because it will be the only way that you can protect your child .
A letter of intent is an important requirement when you have a special need plan . The letter of intent functions as a roadmap for any person involved with your child’s future care . A special of instruction is a working document that enables a prospective caregiver to carry out your wishes and manage the needs of your particular child . Writing a will is very important when you have the special need plan .
When you are writing a will, it is important that you consider stating the person you entrust both your property and your special child. If you do not have any will,you will learn that the government will intervene and know how the property should be divided . By preparing a will, you decide how you want your estate to be distributed, and you also identify the person you wish to name as the guardian of your child or children .
A special need trust is a fundamental object that you can use in this special need plan. When you have the special need trust it acts as a shield of the inherited properties so that the beneficiary will still get the protection . A special needs trust can give you peace of mind knowing your particular person will continue to receive the benefits to which they are entitled while preserving a higher quality of life .
Your planning should include both, who will be the guardian for your minor children and child with special needs, as well as who will be named as the trustee to oversee the investment, administration, and distribution of special needs trust assets . Special needs planning should only be undertaken under the counsel and guidance of an experienced attorney this is one area of planning that should never be done by yourself alone you should learn more of how to do the special needs planning before doing it.