Ensuring that a loved one with special needs is properly cared for is often a burden for many families. The number of families dealing with this challenge is not small either. Census statistics show that roughly 21 million families are currently caring for an individual with special needs, and one in every 26 families is raising a child with a disability.
In our previous post, we began looking at special needs trusts and the benefits they present for estate planning.
In our previous post, we began looking at the role special needs trusts can play in seeing to the financial well-being of disabled children once the parents are gone.
A recent Wall Street Journal article drew attention to the usefulness of special needs trusts for parents with disabled children. Because disabled children often have diminished earning power or cannot manage their own affair, they present unique challenges for parents and caregivers.