Families in Michigan who have children with special needs understand the unique challenges that come with this situation. Special needs children are a blessing and it is important for parents to understand that many of these kids will require care for their entire life. Spending the time to create a special needs estate plan can be well worth it.
Parents of special needs children know that there are many intricacies of their daily life. Life with a special needs child is not easy but it is rewarding. These children often need specialized medical equipment, home health care, and other expenses. Because of these children’s specialized needs, it is important for parents to plan for their children’s future. Creating a special needs trust is one way that parents can allocate money for their children’s future without risking their Social Security benefits.
Careful planning for special needs children is important for parents. Many times these children will qualify for Social Security benefits and Medicaid which can be incredibly beneficial. It is important that parents understand the qualifications needed for Social Security and an attorney who specializes in estate planning can help their client with these issues. An attorney can help guide their client with an estate plan that allows their child to qualify for government benefits while also allowing parents to set aside money in a special needs trust. A special needs trust can be used by the child for other expenses they may have and does not affect a child’s government benefits.
Parents of special needs children should take the time to plan for their children’s future. When a special needs trust is created it can give parents peace of mind that their child will always be provided for.