Parents of children with disabilities need to plan for lifelong care and costs. Putting more than $2,000 in a child's name can disqualify them from Social Security and Medicaid. A Special Needs Trust legally protects money and ensures it goes toward their care.
As parents of children with special needs, children who are physically or mentally challenged and require assistance with everyday activities as well as regular medical or healthcare services, we know that they will probably need this level of care and assistance for the rest of their lives, which means that they are entirely dependent on us for their financial security. But have you thought about who will be responsible for your child's care when you are too old to do it yourself? Or if something were to happen to you and you physically could not care for them, or you no longer have enough money to pay for their care, have you thought about who will take care of them when you cannot? Or where the money will come from? Did you know that if you allow another family member to manage the money for your child, that they are not legally obligated to spend all the money on your child's welfare? And did you know that if you put more than $2,000 in your child's name, that they could lose all of their Social Security and Medicaid benefits? Profits. So how can you be sure that there will
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