What You Need to Know About Special Needs Planning

As a parent who has a child with developmental disabilities, you should know that there are several options available to you to help protect your child should something happen to you. Special needs planning is the term that applies to a range of situations, but most often in cases where a parent has a child with a disability. Here are some of the basics you need to know about this kind of planning. Special Needs Trust Parents with a special needs child can create a special needs trust, a specific kind of trust that allows the parent to leave the child property, while at the same time appointing a trustee to manage the trust and giving the trustee the power to ensure the child’s needs are being met. Special needs trusts are also beneficial because the property the trust owns will not be taken into consideration when applying for either Social Security Supplemental Security Income or Medi-Cal. The trust preserves the child’s ability to receive public assistance while at the same tim
http://www.norcalplanners.com/blog/estate-planning/special-planning/

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