Estate Planning Lawyer
If you have a child with special needs, you are aware of just how important it is to anticipate that child’s needs whenever possible, as an estate planning lawyer in Fairfield County, CT can attest. The wider world does not always take into consideration what life is like for people with special needs, so preparing to meet those needs under challenging circumstances is a common task for caregivers. It is likely because you are so accustomed to thinking ahead that you have questions and concerns about estate planning with your child’s special needs in mind. Studies routinely indicate that only 4 out of every 10 American adults has drafted a will, let alone a broader estate plan. Thinking ahead now will serve your interests and the interests of your child well in the long-run.
Estate planning can be an intimidating process. However, you do not need to go through any step of this process alone. Please consider scheduling a consultation with our firm today so that we can learn more about your family’s needs, estate planning goals, and priorities. After we better understand your unique situation, we will be in the best possible place to advise you of your legal options. That way, the decisions you make moving forward will be as informed as possible.
Estate Planning When You Have a Child with Special Needs
There are several primary considerations our firm will discuss with you once you begin the process of estate planning with your child in mind. First, you will need to think about who may be responsible and caring enough to serve as your child’s guardian when you are no longer in a position to provide your child with necessary care.
Second, you will need to think about what estate planning tools will best serve the purposes of safeguarding your child’s government benefits and/or income while reducing the tax burdens associated with these financial assets. Oftentimes, parents of children with special needs find that setting up a so-called special needs trust is a good way to address these important financial considerations.
Third, you will need to think about your child’s healthcare needs and preferences in ways that are legally protected and ultimately enforceable. If your child does not yet have an advance medical directive (sometimes referred to as a living will) and a power of attorney for medical decisions, these tools should be discussed during your consultation.
Legal Guidance Is Available
If your child has special needs and you have yet to address these needs in your estate plan, please consider scheduling a consultation with our firm today. Our firm is dedicated to helping individuals and families prepare themselves for whatever the future may bring. As the parent of a special needs child, you certainly understand just how it important it is to be prepared to address your child’s needs at all times.
Thanks to our friends and contributors from Sweeney Legal for their insight into estate planning.