What You Should Know about Planning for Children with Special Needs
You’re bound to have some frustrations if you do anything for 40 years. There is 1 frustration that plagues me and confounds me. It isn’t understood by me and I have been unable to resolve it. It drives me nuts.
Why, why, why, why, why won’t people establish a bare minimum estate plan? It’s a complete no brainer. For those who have established a will, when you die, the laws of your state will decide how to disburse your estate. No one’s dreams will be considered. No one’s plans will be followed closely. Reason or no logic is going to be used. The supply provisions are set out in the laws of your State. The judge who oversees the supply (and make no mistake, there’ll be judges and attorneys involved) has no power to do anything aside from dispersing the estate as put forth by the state laws. There’s not any room for deviation or individual worries. No sympathy or factors of what is best are involved. It is black and white.
Did you know that many countries provide for a percentage of your estate to go straight to your children, even when your spouse survives you? Can you believe your husband or wife would get everything? You’re mistaken. As far as 2/3 your property will go to your children with just. Is the way you want to leave a partner or your husband? Do you trust your State Legislature to make your decisions for you? That is what will happen if you don’t do anything.
I send people information constantly and they sometimes get back to me years later, in any respect. They procrastinate. Hey, I understand procrastination. I’ve been known to beg myself. But this is. Of course, a few people today go fast, but generally when urgency or even a few crises exist. Someone is seriously sick, there is a long trip intended, or died without an estate plan. Do not await the crisis or you risk being late. Let’s talk about planning for children and young adults with special needs.
I will dream up many explanations individuals might have like It’s not urgent; I could always do it later. I can not afford to do it. It is not in my budget. I hate to talk about death. I don’t understand what I need to do. I’m too young. Imagine if I get a divorce? I don’t have much. What if I change my mind? I don’t have time to invest with an attorney. I don’t know.
There’s simply no reason not to have an estate plan other than you don’t have an estate. You own nothing of value. You have larger problems than not having an estate plan if that is true. There is no valid reason to not have a strategy in place. Not one.
Let us address some of these explanations.
1. I’m too young. It’s not urgent.
Nonsense, nobody is too young. No one is impervious to illness or accidents unless they are flying around with a big”S” on their torso. Do you read a paper or not watch the news? People of all ages die. Of course, the odds may be against it’s you, but there’s always the possibility. Unfortunately, once you realize it is too late, it’s too late. You know what? Tomorrow is too late. I didn’t anticipate it and promise you that hundreds of people will perish in this country who are not ready. Do not let this be you. National Special Needs Law Month
2. I don’t have time.
Ridiculous! Make time. You’ll wait if you’re currently waiting for time. I will wager that everyone who reads that has 10 things on their calendar in the next 30 days which are not nearly as significant. I understand I will win this bet. What could be more important? If you’re getting married next weekend or are prepping for a Bar examination, you can wait a brief time, But barring some event, it is possible to fit it in. A telephone call to make an appointment is only going to take a couple of minutes. I’m not talking about spending 3 days at a hospital or something. It shouldn’t take more than a couple of hours to get it finished. Lack of time is the excuse of all. I’m talking about the equivalent of a couple of TV programs. Is not this more important than the most recent episode of NCIS? Do it!
3. What if we change our thoughts?
A valid concern with a simple answer. Wills and Revocable Living Trusts (the most frequent plans) aren’t set in stone. They are elastic. They could always, always be amended or revoked (although nobody can change your wishes after you are dead).
4. I don’t understand how to find a person to prepare the files.
Another legitimate concern with a simple answer. Look in your phone directory for real estate planning lawyers. (Hint: They might be expensive. Make sure to acquire prices upfront) Get online and search for a document preparation service experienced real estate planning. You will find lots of. Telephone your local Bar Association. They have referral services. Talk to friends, relatives, and co-workers. Who did they use? Were they satisfied? How much did they pay? You may opt to contact me or a different author.
5. I hate to discuss death. If I plan for my death, I might die.
Hogwash. Stress will be relieved by having a plan in place and likely lengthen your life. Peace of mind is a factor.
6. I can not afford it.
Perhaps not a good excuse. Maybe a Revocable Living Trust or A Will is significantly less than you might think. Sure, you may spend a fortune with an estate attorney in that 300 member law firm. However, unless you are a multi-millionaire, you do not have to spend thousands. Wills are cheap (until you find in probate expenses, however, your heirs will pay those). You ought to be able to find a complete Living Trust Package for $600. Be careful of what is additional and what’s contained in the fee. You don’t even need to pay it. Charge cards are accepted by many of us.
Thus, unless you trust your government to distribute your property, get off your back and begin on an estate strategy. Make a phone call or send. It is not hard to begin. You know you need to do it. There’s no fantastic excuse. Tomorrow could be too late. It is for somebody.