Special Needs Trusts
It is my experience that parents with Special Needs children, whether autism, downs syndrome, or other disabilities have extraordinary ability to care for their children. They accomplish heroic feats to care for and raise their children. This extraordinary care extends through adulthood as well.
With everything these parents deal with, the condition of their child also requires special estate planning. You see, these children once into adulthood are often dependent on assistance from our state and federal governments because they cannot care for themselves. This is true here in Arizona.
Because these children and adults are dependent on government assistance, they cannot have any significant property of their own. If they did, they would need a conservator or trustee to manage it. When they have property of their own, they are disqualified from assistance until their property is spent.
Consequently, parents of special needs children and adults should not leave any money directly to their children. Rather, they should leave it to a special needs trust for the benefit of their child. This special needs trust can then spend money on their children to improve the quality of their lives.
The special needs trust for a child or grandchild can be used for vacations, special medical equiptment, therapies, televisions, DVDs, computers, etc. These are things that government assistance will not cover.
The lesson is this. If you have a special needs child who will require assistance for their lives, or may require assistance, then you absolutely need a special needs trust in Arizona. How do you form a special needs trust? The answer is find a qualified attorney who has the skills and education necessary to draft it. This attorney should focus on estate planning.
