Web Posted on: December 3, 1998
PLANNING FOR THE FUTURE OF MY SPECIAL NEEDS CHILD
SNAP/Special Needs Advocate for Parents
Century City, CA
Did you know that there is a Federal Law which states that " If you leave a person with special needs anything over $2,000, that person loses eligibility for all government benefits?" There are legal ways to protect against this $2,000 limit and specific financial ways to provide for a child's lifetime care even if a family is not wealthy.
1. Introduction
The purpose of this presentation is to educate both families and professionals of the many-faceted legal and financial issues as they pertain to planning for the future of a disabled person. This is otherwise known as Special Needs Estate Planning.
2. The Issues to be Addressed
A. Legal Issues
- Wills Vs. Trusts
- Types of Trusts, including Special Needs Trusts
- Letters of Intent Guardianship Vs. Conservatorship
B. Financial Issues
- Types of products available and appropriate
- Amount of moneys needed in different situations.
- The financial companies to choose from.
3. Objectives
A. Learn how to provide for your special needs child's future without jeopardizing government eligibility.
B. Learn what the appropriate legal documents are, who should do them, and what they will cost.
C. Learn what the appropriate funding vehicles are, how to find the best companies to work with and know how much money is needed.
Planning for the future of your children is hard enough. If your child has a disability, it is even more difficult. How will they be cared for after you're gone. This session discusses special needs estate planning, or "estate creation" for those of us without any personal estate already.
The presenter, an estate planning professional from S.N.A.P. (Special Needs Advocate for Parents), is also a parent of a child with special needs. She knows first hand the maze of legal and financial information a parent must work through to feel confident that the future of their disabled child is secure. If proper planning is not done, the child will lose all eligibility for government benefits.