How do I plan for a child or grandchild with special needs?

When planning for a child or grandchild with special needs, it is important to think long-term. In Idaho, estate planning law provides important tools to help you provide for your loved ones. First, decide who will provide care for your child or grandchild if you are no longer able to do so. You should name a guardian in your will, and this same person can become a conservator if necessary. A conservator will have the legal authority to manage your relative’s financial and medical affairs in the event you cannot. Next, consider setting up a special needs trust. This is a trust specifically designed for beneficiaries with disabilities or special needs. Typically, assets placed in a special needs trust will not be taken into consideration when determining eligibility for government benefits, so the trust can be used to supplement government assistance. Finally, considering consulting with a lawyer who can provide advice specific to your situation. They can help you navigate estate planning law and ensure that your plans are in the best interest of your child or grandchild. This will help ensure that your loved one has a secure future.

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