Special Needs Trust- by mail from Autism Society

What will happen to my child with special needs when I am gone or no longer able to provide care?” This question haunts many families. Whether your loved one is four or forty, you never know how long you will be here.
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Write A Letter of Intent- with detailed written instructions about your child

A letter of intent should include general information and background about your loved one, medical history, present and future housing arrangements, daily living skills, favorite leisure activities, rights and values you want to preserve, legal papers and their location, circle of friends and professionals, final arrangements and whatever else will help caregivers enable your loved one.

. Select guardianship carefully

When your child reaches 18 years of age, you need to become LEGALLY his /her guardian You also need to select the right person to be his future guardian after you are no more. The guardian should be able to make decisions as needed and according to the Letter of Intent. More often than not, however , few people are interested or willing to take on the responsibility.

Discuss who will provide care

Who is available to help? Don’t assume that other family members will take responsibility. Discuss the topic openly, so that each member can decide what role, if any, he or she will assume. Remember, these decisions often involve a lifelong commitment. If there are no siblings and if no one comes forward, consider forming a parent group or association

Consider establishing a Special Needs Trust

A special needs trust provides professional money management of assets and funds for your loved one’s care.
A Special Needs Trust is of no value without funding. It is often recommended that minimal funding take place during the parent’s lifetime. Many people purchase life insurance on the parent, naming the trust as beneficiary. It’s also possible to make the trust the beneficiary of wills, annuities and qualified plan assets. Other family members and friends who want to help out can be encouraged to put money directly into the trust.

Seek professional advice

Many people will want to help, but few are qualified in this complex field. Find specialists with an expertise in special needs planning, including attorneys who specialize in special needs situations.
Creating a financial strategy for a family member with special needs can be demanding, time-consuming and frustrating. But your effort will be worth it down the road, both for you and other family members. Above all, the preparations you make now can help assure your loved one with special needs will be financially secure when you are no longer able to provide for them