California Estate Planning Attorney Explains Providing For Disabled Children In Your Estate Plan
No one really likes to create a California estate plan
, since it reminds us of our own mortality. But parents of disabled children should consult a certified estate planning specialist to create a California estate plan that will provide for their disabled children after their death.Some of the estate planning issues your California estate planning attorney will discuss may include: Who will care for your child? Where will the child live? Who will manage your child's financial assets? What services will your child need and who will maintain his or her eligibility for those services?
When you meet with your certified estate planning specialist, be sure to explain the nature and severity of your child's disability, or disabilities if your child has multiple disabilities. Your estate planning attorney needs to understand your child's physical, cognitive and social capabilities and limitations, especially in his or her ability to make decisions about medical care, financial issues, and housing for his or herself. Your estate planning attorney also needs to have an idea of which services your child is currently receiving, and whether your child may lose eligibility for those services as he or she ages.
One estate planning tool your certified estate planning specialist may suggest is a special needs trust (SNT) that will provide for your child. A well-drafted SNT can provide for an excellent quality of life for your child because the trustee is legally obligated to follow your instructions. A SNT will also keep your child eligible for public benefits, and still let them keep their inheritance.
Unless your estate plan names your other children as a trustee, they are under no legal obligation to care for a disabled sibling. That is why your California estate plan must be created by an experienced estate planning attorney who knows you, your children, and the federal and state laws. He or she can create an estate plan, including trusts that allow you to accomplish your goals with peace of mind.
If you would like more information concerning your estate planning options, consult a certified estate planning specialist who can walk you through the various options available to you to care for a disabled child in your estate plan. Whether your estate planning goals are immediate or long-term, a qualified estate planning attorney will be able to counsel you on the best options available to you to meet your individual needs.
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