Planning for Your Special Needs Family Member
If you are caring for a family member that has a disability, you worry about the future. What happens when you aren’t there anymore to care for him or her?
Have you done the right kind of planning? Or, have you put it off?
Now is the time to start planning for your disabled family member’s future. You and your family should consider the following issues:
- Where will my loved one live when I’m no longer here to care for him or her?
- What financial needs will he or she have in the future?
- How can we assure that our loved one will have the same quality of life as he or she does now?
- Who will administer his or her funds? How do we assure that the funds are managed and used to the best advantage?
- How do we make sure that Social Security and Medicaid benefits won’t be affected?
- If we leave an inheritance, what impact will it have on his or her benefits?
The way to make certain that your loved one is well cared for when you are no longer here is to establish a Special Needs Trust.
This trust can provide for the “extras” that are not available when an individual relies totally upon public benefits. While the funds cannot be used for food or rent, there is so much more that you want your loved one to have. These funds can bridge the gap between the basic, bare bones existence that is possible on public benefits and maintaining the current standard of living. It will provide funding for dental and eye care that is not covered by Medicaid. It can also provide funds for entertainment and travel expenses.
A Special Needs Trust can provide the right future for your loved one, while providing you with peace of mind. You will be assured that the life of your loved one will be enhanced and enriched, in the way that you would do, but when you are no longer here.