Estate planning is the process of setting out how you want your personal and financial matters to be handled during periods of incapacity or at your death. It is especially important for a number of reasons including, in this case, the fact that you have minor children and/or children of any age with special needs.
Estate planning is not just for the wealthy and, in fact, may actually be more important for smaller estates. Estate planning allows you to make sure that your loved ones will be provided for and not overly burdened by personal and financial matters. Your estate plan makes clear your wishes and can help to avoid family disputes.
Virtually everyone benefits from having a basic estate plan, which typically includes one or more health-care directives, a durable power of attorney, a will, and a living trust. In addition to these basic documents, you may need to make further plans for your special needs dependents. As with any estate plan, implementation requires the assistance of an experienced estate planning attorney.
As part of the life planning process, Special Planning will recommend individual counseling by trained and specialized attorneys in the field of special needs. In addition to access to regional legal representatives, Special Planning recommends the services of attorneys affiliated with the Special Needs Alliance. Special Planning LLC does not offer legal advice nor represent families on legal issues.
(Source: Forefield 2009 Basic and Advanced Estate Planning Workbook Introductions)
