If your disabled child is going to need assistance for the rest of their lives, then it is a good idea to have a supplemental needs trust set up for them. Sure, you hope that you will be alive for many more years, especially if you are a young parent. However, you never know what may happen in the future. Whether you live another five or fifty years, you want to know that the special needs trust will be there to help your child. Here are some reasons why this is so important:
They Can Afford Better Housing Than What The Government Supplies
It is not up to the government to make sure that your disabled children have the nicest residences once you pass away. The government will, however, make sure that they are placed somewhere and that their basic needs are met. If that does not sound good enough to you, then you will want a needs trust established. The money in that needs trust can be put toward the expense that comes from staying in a nicer residence for the disabled.
Your Family Will Not Feel Obligated
While it would certainly be nice if someone in your family was able to take in your disabled child should you pass away, it is not something that they should feel obligated to do. This is especially true if your disabled son or daughter is a lot older when they pass away. Caring for a disabled adult for the long term is a big responsibility, and it is not something that everyone is up for. By having a special needs trust set up, your family will be able to help find your child a good place to live.
It Can Be Used By Family
Some people hesitate when it comes to moving in one of their disabled adult relatives simply because of the time and expense that comes with caring with a disabled adult. However, when you have a special needs trust set up, they might be able to take on that responsibility. They will know that if they have to reduce their work hours or pay for help, the trust that you set up will help cover all of that.
You will want to start the special needs trust as soon as possible in order to ensure that your disabled child will have access to the care he or she will need should you pass away before them.
