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You are here: Home / Uncategorized / Back To School: Make Sure To Plan For Your Special Needs Child

04.04.2015 by admin 1 Comment

Back To School: Make Sure To Plan For Your Special Needs Child

If your child has an autism spectrum disorder, epilepsy, or any other disorder, you’ve spent the last few years making sure your child’s needs are met.  Teachers have been met with and doctor’s appointments have been attended.  Think of an acronym and you’ve had it: PT, OT, ST, the list goes on.  I’m sure it feels as though you don’t have a second to spare and could not possibly add one more item to you “to do” list.  I hate to be there bearer of bad news but there is one thing you must add. Today I’m urging you to spend five minutes thinking about future planning for your special needs child.  After you’ve put the kids to bed, set aside the laundry and forget the clean up of today’s adventures.  Spend five minutes thinking about your child’s future finances.

What will happen to your child if you are gone?  Does your child receive state assistance for their disorder?  Who will manage their special needs?  Many families with special needs are so financially strapped the idea of having an estate plan may seem laughable, but if you have a child with special needs it’s actually very important to have an estate plan, no matter the size of the estate.

Creating an estate plan centered on a “Special Needs Trust” (SNT) will provide you with peace of mind.  An SNT will provide funds to pay for the child’s expenses while still keeping the child eligible for government benefits.  In order for your child to receive most government assistance their assets may not exceed $2,000.  While that may seem an easy requirement to meet now, what about when your child is thirty or if they were to inherit from a grandparent or parent?  An SNT will protect whatever assets are left to your children while continuing their access to SSI or Medicaid.

For more information and an estate planning check list please contact Caitlin at Caitlin@BearerLaw.com or visit www.BearerLaw.com

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Comments

  1. Gayle and Sam McAlister says

    17.09.2015 at 2:04 pm

    We are so pleased with Caitlin she is like a person you already know when you meet her. Such a great personality. So knowledge on all aspects of our needs. Plus more . We highly recommend her she is the best. for what we needed. Thanks again Caitlin

    Reply

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Bearer Law is your home for Michigan Estate Planning.

Attorney Caitlin E. Bearer practices in the areas of estate planning, special needs advocacy, special needs trusts, trust and estate administration, guardianships and conservatorships, and probate.

Attorney Lee Doyle specializes in areas of business law, including employment law, matters of contract creation and defense, and business incorporation.

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