Benefits 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. The process of special need planning is important because when you have put it in place you are sure that in case you are not there to provide to the needs of the disabled child, the child will still receive the best care that they need.
When you have these special need planning; it is important that you have the tool of a special letter of instruction. The letter of intent functions as a roadmap for any person involved with your child’s future care . When you have a letter of intent it will guide the person that will be taking care of your child who has special needs . When you have the last will it is also essential in a special need plan .
Your previous will has instructions, including a special needs trust, for the management of assets passing to your child with special needs . In case there is no will it is the responsibility of the law to know the way forward of distributing the property. When you have your last wishes written down, is very important, this will help to determine the way forward in sharing the assets and in case you trust someone to handle your children it will be known.
A special need trust is the main tool that is commonly used in special needs planning . 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 . When you have the special need trust, it solves more of your problems, this is because with it in your special need planning you will be sure that your child will be given the best care .
When you have the special need plan, you should include the person you want to look after your child, and you should state how you want the wealth to be distributed . 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.