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Digg it UP - 14 Tips on How Parents Who Have a Child with a Disability Can Organize Their Estate
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4. A copy of the Letter of Intent, which parents should update at least once per year. The Letter of Intent is a nonbinding document that passes vital information about a person with
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Parents should also use a binder that contains all the information that future caregivers will need to carry on after the parents are gone.
The binder should be kept in a place that is readily accessible, so parents can update it periodically, and so the people who will act as the child's advocate after the parents are gone will be able to find it. Many parents purchase small fireproof safes for this purpose.
The binder should generally contain separate folders in which parents place the following:
1. An overview of the estate plan in plain English -- that is, without any legalese, that the attorney should write.
2. Important legal papers for any children with disabilities (for example, birth certificates, Social Security cards, and health-insurance cards).
3. A description of the goals and purposes of the special needs trust, which the attorney should write.
4. A copy of the Letter of Intent, which parents should update at least once per year. The Letter of Intent is a nonbinding document that passes vital information about a person with
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The binder should be kept in a place that is readily accessible, so parents can update it periodically, and so the people who will act as the child's advocate after the parents are gone will be able to find it. Many parents purchase small fireproof safes for this purpose.
The binder should generally contain separate folders in which parents place the following:
1. An overview of the estate plan in plain English -- that is, without any legalese, that the attorney should write.
2. Important legal papers for any children with disabilities (for example, birth certificates, Social Security cards, and health-insurance cards).
3. A description of the goals and purposes of the special needs trust, which the attorney should write.
4. A copy of the Letter of Intent, which parents should update at least once per year. The Letter of Intent is a nonbinding document that passes vital information about a person with
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The binder should generally contain separate folders in which parents place the following:
1. An overview of the estate plan in plain English -- that is, without any legalese, that the attorney should write.
2. Important legal papers for any children with disabilities (for example, birth certificates, Social Security cards, and health-insurance cards).
3. A description of the goals and purposes of the special needs trust, which the attorney should write.
4. A copy of the Letter of Intent, which parents should update at least once per year. The Letter of Intent is a nonbinding document that passes vital information about a person with
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2. Important legal papers for any children with disabilities (for example, birth certificates, Social Security cards, and health-insurance cards).
3. A description of the goals and purposes of the special needs trust, which the attorney should write.
4. A copy of the Letter of Intent, which parents should update at least once per year. The Letter of Intent is a nonbinding document that passes vital information about a person with
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4. A copy of the Letter of Intent, which parents should update at least once per year. The Letter of Intent is a nonbinding document that passes vital information about a person with a disability to future caregivers.
5. Unsigned copies of any wills.
6. A letter spelling out any wishes regarding final arrangements (burial, cremation, or religious services or other ceremonies that may be desired).
7. Living wills and/or Power of Attorney for health care that may have been prepared.
8. Extra signed copies of any trusts- special needs trusts, living trusts, or insurance trusts- that may have been prepared. Remember, signed copies will be needed to complete property transfers, and extra signed copies will prove to be useful.
9. A list of major assets and information about where they are kept (for example, a list of insurance policies, stocks, mutual funds, bank accounts, with policy and account numbers and storage locations, and the names of any brokers, insurance agents, and investment advisors).
10. Guardianship papers, if any, and a list of advocacy organizations that may be helpful.
11. The names of government agencies or case workers
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