Special needs planning — What happens when parents die?
Thursday, October 9th, 2008
From the Wall Street Journal:
A growing number of financial service companies are springing up to help parents provide for the future care of their children with disabilities. They help navigate the maze of federal and state programs, and assist parents in setting up trusts, coordinating estate plans, and educating future caregivers.
These tasks have become increasingly vital as people with disabilities are living longer than ever before, frequently outliving the parents who support them.
Miami lawyer Barry Nelson (far left) set up a special-needs trust for his fourteen-year-old son Jesse, who has autism. The trust will be funded by life insurance when Nelson dies, and can be used to pay for expenses beyond what Medicaid or SSI would pay for.
Nelson says a special-needs trust “gives me — and it gives every parent — peace of mind.”
A sidebar provides a list of financial planning resources.
(Wall Street Journal photo)


