Steps to securing the financial and personal future of disabled child

As parents of special needs children get older, the biggest question in their mind is: Who will take care of my child when I am gone?

There are steps securing the financial and personal life of a disabled child:

1.   Create a Special Needs Trust for the benefit of your disabled child.

2.   Discuss a petition for conservatorship/guardianship of the adult disabled child with an attorney to determine who will make health care decisions for your child if he is not able to do so.

3.   Select a trustee and back up trustees for your child.

4.   Select a non-profit organization to be there as a safety net, if your trustees fail.

5.   Create a Care Plan and update the care plan every year.   The Care Plan should include a list of physicians, and most current medication, with dates for the next visit.   Keep this in a three ring binder notebook.

6.   Buy life insurance early and name the special needs trust as its beneficiary.

7.   Don't leave the decision-making to your other children.

8.   Set aside time to build a financial plan for the disabled child which does not disqualify him from government aid.

9.   Don't alienate your family members who can be there for your child.

Mina N. Sirkin is a Family Trust Attorney in Los Angeles, CA, and mom to a really cool special needs child.  http://SirkinLaw.com.  MSirkin@SirkinLaw.com

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Copyright 2009 Mina N. Sirkin