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 plan for the future of your child or a member of the family who has special needs, you can now relax because you know that everything is under control . At times, families do put off the job of special need planning because at times it can be overwhelming 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. When you are using the special letter of instruction, it works as the way forward when you have the special needs planning . 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 .
When you have written down your will, it includes who you have trusted in handling the assets, and the person will give them to your child . 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 . With the special need tool, you can use this to protect the property that you have because you know that your child will still receive the kind of care that the child needs. 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 . Every person Planning for the future requires thinking about the kind of life you want your child to have when you are no longer able to provide care .