Category:  Future Planning

What will your child do when you are no longer able to provide help due to death or illness?  Instead of worrying about your child's future, try to prepare for it now.  This may be easier for parents of adult children who have a good idea of their children's needs.  Parents of younger children may want to talk with professionals about future living possibilities, choices, and problems.
Ideally, you and your child with a disability have established strong community ties and relationships that will support your child when you are gone.  Church members, co-workers, friends, relatives, neighbors, and others who care about your child and have been involved in your child's life can look out for your child and help him or her solve problems.  If you haven't established a support network for your child, this may be a good time to start building relationships.
Letter of Intent.  In planning for your child's future, you may want to write a Letter of Intent.  This is not a legal document, but a description of your child's history and your future hopes for the child concerning education, employment, social preferences, religion, and other life areas.  Think carefully of settings that will promote your child's growth, changing needs, and individuality.  This letter can be a guide for future caregivers and is best written with your child.
Next, figure out how much financial support your child needs, think about the possible future employment, future government benefits, and what portion of your assets will be needed for your child's financial stability.  You can pass on your assets to your child while you are alive, set up trust fund that takes effect while you are alive, or include your child in a will.

Wills.  Every adult needs a Last Will and Testament.  If you die without a Will, the state will distribute your assets according to legal rules, which might not achieve what you want for your child.  You should try to find a lawyer experienced with special needs families.  Contact your local disabilities groups or bar association for a lawyer referral.
You have several options when planning the distribution of your assets.
You may leave all or part of your estate to your child.  The type and degree of your child's disability may make a difference on the size of the estate you leave your child.  A child with a physical disability or health condition that will not worsen over time and who does not qualify for government benefits can be left funds outright as with a non-disabled child.  If the disability affects earning power, consider whether more money should be left to the child.  If the disability will worsen or if the child's financial judgment is impaired because of mental illness cognitive disabilities, or other reasons, you may consider setting up a special needs trust instead.  If you leave your child an estate, you should be aware that the government may require your child your child to spend inheritance funds for cost-of-care charges and may limit the government-funded resources available to your child.
If you don't want to leave money outright, you can designate another person to be a bank account co-signer.
You can leave a portion of your estate to another person with the expectation that the funds will be spent on your child's behalf.  Possible problems with this disbursement are:

1. If the person divorces, his or her spouse may get a portion of the money in a settlement.
   
2. If the person dies, his or her family may use the money for other purposes.