How can you ensure that your child will remain well cared for and secure once others assume the role of guardian or caregiver? While creating a financial plan and establishing a specialized trust are central to preparing for your child’s future, special needs planners also advise families to write down their intentions and expectations in a document referred to as a Memorandum of Intent, also known as a “Letter of Intent.” This document can be used to describe your child’s health care and therapeutic needs, identify lifestyle preferences and provide contact information for doctors, therapists and teachers. It also can be used to convey insights into your child’s personality and history that future caregivers might not easily gain on their own. Continue reading
A businessman with a $2.5 billion estate passed away in 1976. He was single and many individuals, mostly unrelated to him, filed more than 40 wills with the probate court. Twenty-two cousins fought with all of the other individuals claiming a share of the estate. In the end, the wills were all ruled invalid and the 22 cousins plus the federal government divided up the estate.. This may occur because one of your family members or potential heirs might believe that he or she can receive a larger portion of the estate. Continue reading
Selecting a nursing home for a loved one is one of the most important and difficult decisions that you may be asked to make. This decision is usually made during a time of crisis, frequently when a family member is ready to leave the hospital after a serious illness or operation. It would be easier on everyone if this decision could be planned for. However this is usually not the case. Just remember, be nice to your kids… they are going to pick out your nursing home. The first issue to decide is whether or not you really need a nursing home (often referred to as Skilled Nursing Facilities or SNFs). Would some type of home services be adequate? This issue should be discussed with your physician, as well as other healthcare providers. Continue reading
Christmas Pops 2015 tickets will be available Saturday, November 21st at 10:00 a.m. !!!!!!!!!!!!!!!!!!!! Continue reading
While day-to-day obligations can certainly get in the way, at some point as a parent of a child with special needs you will need to create a special needs trust to shelter and manage whatever you may leave the child. This is the only safe way to make sure that the funds you leave are protected and well managed and that the child, who by then is probably an adult, can continue to qualify for vital public benefits.
Here are some of the questions you will need to consider in guiding your attorney to create the trust: Continue reading