Parents of children with special needs are used to having to do more for their children than other parents. Most of them do not complain about that because they love their children and do not mind having to help their children out more. I wish I could tell these parents that they do not need to do more with their estate plans than other parents. Unfortunately, I can not tell them that.
Because of the expenses involved with caring for a child with special needs, most families with special needs children do not have large estates that they can use to make sure that the special needs children continue to have the necessary financial means after the parents pass away. The parents need to find a way to fund an estate that has enough money for their children. Many try to do so with life insurance polices. That is unfortunate as life insurance delivers a lump sum of money (assuming the special needs child is teh benficiary) that might disqualify the child from necessary government assistance.
Parents of children with special needs should schedule appointments with experienced estate planning attorneys. The attorneys know much better ways to make sure that the children are taken care of after the parents pass away.
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