Writing a will may be easy for some parents, but for parents with disabled children, it can be complicated. If you have a disabled child, check what you put in the will to avoid mistakes with long-term consequences. The mistakes that parents make when writing a will may affect the financial resources of their disabled heirs some years later. That's why you need a wills and estates lawyer to help you write a will that makes your disabled child eligible for the federal government benefits. Here are things to do when writing an estate will for your disabled child:
Update the Will or Estate Plan
Estate regulations and planning rules change often, and you may not currently apply the estate rules that were effective ten years ago. Find out what's new about estate planning for children with special needs. Let an estate planning lawyer help you revisit your will to find out if it meets the needs of your disabled child or if you need to change something. An updated estate plan determines the estate goals you include in your will to ensure your disabled child enjoys a good life even after you are dead.
Don't Disinherit the Disabled Child
Most parents depend on federal government programs to get the accommodation, medical treatment and food their disabled children need. Some parents disinherit their disabled children to ensure they participate in these programs. The standard of living that most federal government programs provide is minimal. For this reason, children with special needs find it hard to supplement federal benefits through paid work. As a parent, set up a special disability trust for your disabled child to ensure the estate they get won't get disqualified for the government benefits. If you want to establish a trust for your disabled child, consult a wills and estates lawyer for help since the process can be trickier for you.
Get the Right Trustee
Though having a special disability trust for your disabled child is a great idea, it can get complex sometimes. That's why you should choose a trustee who understands the rules of a special disability trust and probably how confusing they can sometimes be. A trustee should be ethical and trustworthy, and someone who understands your objectives. A trustee should invest and safeguard the estate or assets and ensure they are transferred to your disabled child as you wished.
Your disabled child should receive maximum care even after your death. So have a properly worded will that gives them access to the medical care funds they need to live an enjoyable life. Speak with a wills and estates lawyer for more information.
