A woman who represents The Academy of Special Needs Planners recently sent me a book they had put together, All The Bunnies. In it, lawyers who've had family members with special needs share their stories and discuss special needs planning on a personal level. It was very moving.
Lawyers who are special needs planners help families plan for their children's future. They can give guidance on special needs trusts, establishing guardianships, estate planning, Medicaid and Social Security Disability Insurance.
I asked her if one of the lawyers would be willing to answer some questions, and she said yes. So, post your q's and I will run answers in the near future.
Also, I have two All The Bunnies books to give away! Post either a question or comment below by the end of the day on Friday and I'll randomly select two winners.
Update: You can buy the book ($9.95) or download it ($1.95) here.
Having a special needs daughter, that would be an awesome book to read. Although, I want to believe I will be around for a long time to take care of my daughter, we arent promised tomorrow. Even if I dont win the book, and since Ive never won anything in my life thats the chances, where can we find the book?
ReplyDeleteOh me, please...oh, oh me...*hands raised*
ReplyDeleteYou read my mind! I was inquiring about this recently. Is setting up a SNT like a setting up a Foundation - with a Board or Trustees? I am also confused about the money and how it can be spent. Can it be spent on OLD medical bills and related medical things, like an adapted car (for instance)? Do you need special permission to spend it now (ie: car, new BAHA)...or MUST it all be for when I am no longer here? As you can see I am REALLY confused about this topic. Thanks for offering the connection!!
No specific questions, but I would love a copy of the book and am anxious to read others' QnAs. I just don't even know where to start.
ReplyDeleteEllen...this is great! We recently met with a lawyer to set up a special needs trust. There are so many things I never would have considered. Thanks for suggesting the book. I also look forward to reading the Q&A
ReplyDeleteSounds like an interesting book. I would also tell parents to check with your local ARC. I have attended two lectures held for free by our local ARC on estate planning and Guardianship. The lawyer was wonderful and gave out excellent hand outs. The second time I attended I found the parents to be the most informed parents of special needs kids I have ever seen in a group. I also learned just from hearing their stories and ideas. Just like here, other parents are a wonderful source.
ReplyDeleteWow, this sounds awesome! I'll have to think about what my questions are.
ReplyDeleteMy son is not quite 1, so we pretty much don't know anything yet. Since it's all a waiting game, we'll wait and see if we win the book!
ReplyDeleteI, too, have been considering this lately. I looked at the CP website and it directed me to a local financial planner. So, I guess my questions are:
ReplyDeleteDo you usually do this through financial planners or lawyers? What are typical costs associated with setting up the trusts? What is necessary to tell our relatives (i.e., the grandparents) to keep in mind when leaving our children money in the will - I know Emma, probably others, need to own less than $2000 to continue to receive medicaid? How do we find reputable people to help us navigate this scary planning process?
I'm so lost on this. I'd love to win the book to help me feel more empowered to take action! Thanks for taking this on!
Kristina
I'd like to ask the lawyer, just where do you begin in planning for the special needs child - what's the very first step? I'm so overwhelmed by the thought that I don't know where to start.
ReplyDeleteThis is awesome. The only thing I have done so far is to set up a life insurance policy, and establish if something happened to me my sister would get the proceeds, and Jude. SO I will be anxious to read your interview.
ReplyDeleteAlso, thanks for the post on stem cells. I have found 2 other places that give me a bit of hope. It's amazing what medical science has accomplished
Ellen,
ReplyDeleteWhat a great idea. My hubby and I attended a session similar to that at a Family Connections conf. a few yrs ago. My q deals with families who are on very limited budgets, how can we set up SNT's for our children if we can't afford to hire an attorney?
http://lifewithfaith04.blogspot.com/
hmmm, some good questions already. I am wondering if there are any financial advantages/disadvantages to setting up a SN trust. For example, if we put money into it now, would we be able to take it out later if we needed it? Is it included as part of our assets, so would it affect our family receiving financial assistance? Do we really need a lawyer?
ReplyDeleteAhhhh, thanks for the light topic. *GULP* This topic scares the life out of me. But I do have a question...
ReplyDeleteDoes the "Guardian" you appoint for your child just handle the money...or do they "adopt" the child as theirs? Is that a dumb question? *GULP*
What a great idea for a book. This is a topic that is completely overwhelming. It is one of those that HAS to be done, but where on earth do you start? I really don't have any specific questions, but I will be anxious to read what other bring up.
ReplyDeleteThanks for the information so far. A trust is on our "to do list" for the summer. I was wondering if you can include SNT in a family trust or are they 2 different trusts? We need to get crackin on this. This book sounds like a good place to start researching. I often worry about how my son will be cared financially after we are gone. Maybe that's the financial planner part. Lots to consider. Love your blog.
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