As I mentioned in a previous blog, it is very important for every adult to have a qualified attorney prepare the following documents: a Will or Revocable Living Trust, Power of Attorney, Medical Power of Attorney, and a Living Will. However, if one has a family member with special needs, it is extremely important to do additional planning since the special needs family member may need special care and protection for life.
This special needs planning would include the following:
- A Letter of Intent: A letter of intent will provide important information about the family member who has special needs. This would include their specific condition, their level of functioning, and how you want them to be cared for.
- The Appointment of a Guardian: Just as you would list a guardian for your children in a Will, you would similarly list a guardian for your special needs family member. However, in the case of the special needs family member, the chosen guardian or successive guardians would need to protect the family member for life. Take great care in the appointment of the guardian(s). It needs to be someone who is 100% trustworthy and truly work in the special needs family member’s best interest.
- A Special Needs Trust: In order to provide for the financial security of the special needs family member for his or her entire lifetime, it is important to create a “special needs trust” (or similar vehicle) carefully written by a qualified attorney.
We know you love your family member with special needs, and it is vital to plan properly for their care and protection. This planning should be done with the help of a qualified attorney.
Note: If you do not know a good attorney experienced in this, please let me know, and I will be happy to give you the names of several who can do an excellent job for you.