A life care plan can be designed by a professional, a parent, or another family member with the assistance of professionals. The life care plan should begin by identifying the future needs of the child with a disability and establishing a standard of living that the parent wants for the child with a disability. The cost of the standard of living should then be established. This would include a discussion of immediate cash needs such as a home, a vehicle, repayment of debt, clothing and shoes, a computer, a cell phone, etc. A monthly budget should then be established, including shelter, transportation, and personal needs. How will all of these needs be met financially? The child with a disability may be receiving some benefits that can pay some expenses, and some can be paid for by accessing the trust. Assuming the trust can pay 3.3% per year for annual maintenance of the child with a disability, how much will be required to fund the trust? Does the parent have sufficient assets? If not, will whole life insurance be required?
Many parents have a will leaving assets outright to their children, including their child with a disability. This mistake renders the child with a disability ineligible for means-tested public benefits, including Supplemental Security Income (SSI) and Medicaid. Best practice dictates that the parents leave the assets to the child with a disability in a special needs trust to maintain the child’s public benefits.
Many clients wait too long to plan. The longer a client waits to plan, the less likely it will be that sufficient assets will be set aside to provide the necessary standard of living for the child with a disability.
Summer camps for special needs kids offer them the opportunity for fun and socialization.
Here kids also get the structure they have missed due to the pandemic situation in the bygone year.
Special needs summer camps offer programs specially designed to help children grow.
This is why a summer camp experience is important.
