February 2021
When you have a child with special needs, you may worry about what will happen if you become incapacitated. Putting together a care plan can give you peace of mind. According to the Seattle Children’s Center for Children with Special Needs, a care plan is a comprehensive document that conveys the most important information about your child. It helps people understand how to provide the necessary care and what resources are available to them. What information does the caregiver need? A care plan should include all the information someone would need to take care of your child. This includes the following medical information: Medications and dosages Medical regime, including physical therapy and check-ups Emergency treatment Additionally, you should include personal information about your child. Does he or she have allergies? What kind of tasks require assistance? The more information you can provide, the better other people will be able to step into this role smoothly. Who needs a copy? Once you create your care plan, you should share it with all the other people who provide services to your child. These people should know who you have authorized to be your child’s caregiver. For example, teachers should all have a copy. Additionally, doctors and therapists should have access to it. Ask yourself who will provide other types of care in an emergency. These people should all receive a copy as well. As you distribute your care plan, you should encourage people to reach out to you if they have questions. This ensures that they will be ready to step into the role of a caregiver if you are suddenly incapacitated.
In life, you invest your time toward cultivating and maintaining your estate. To maintain this after your death, you put just as much thought into your estate plan and will. But after you create it, you cannot just let it sit. You should consider discussing it with your family and loved ones. Prepare for a tough conversation Market Watch discusses how to broach the topic of your will . They acknowledge the fact that this is going to pose as a draining conversation for you and your loved ones. It may even agitate them to the point that they lash out. They may not want to have this discussion at all. As such, your first step should be to bring the issue to their attention long before you have the actual conversation. Let them know that you want to talk to them about your will. Explain your reasons for wanting this. Be prepared to field questions and offer counter-arguments. Next, break the discussion up into several chunks. Experts believe this is better than trying to have one big discussion that hits every topic you want to cover. It gives everyone time to digest the information you provided. Keep an open mind They also suggest that you remain open to feedback. This is a hard thing to do, especially if you have already worked for a long time on your will and estate plan. But beneficiaries and family members often have good ideas that you may have overlooked while working on your own. Experts finally suggest you tackle this sooner rather than later. This gives your loved ones more time to adjust, while providing you with more time to fix any issues and streamline your plan.
When it comes to appointing a trustee, there are a few things you may want to consider. While choosing your closest friends or family members may be your initial thought, these considerations can help you determine if they are the right fit. Are they good with money? The purpose of a trustee is to manage the assets in your trust according to your wishes. If your close friends and family members are not good with their own personal money, your trust could suffer under their control. According to an article on Forbes.com, family members who live from paycheck to paycheck may not be the best choice for a trustee . Do they have family biases? In addition to being smart with money, your trustee should avoid family biases. It is crucial for them to treat your heirs fairly. For example, if your trust allows heirs to receive loans from the trust, your trustee should extend that privilege to all beneficiaries. Lending money to one heir but not another may create problems within the family and could cause resentment. Are they trustworthy? Although this may seem obvious, you will want to choose a trustee that is honest. They will be responsible for managing money and it is essential that they abide by your wishes. This includes either taking a fee for their services or not. If you think family members may misrepresent your wishes, it is best not to choose them as trustees. For some people, it is easier to choose a fiduciary service instead of friends or family members. While they may cost more in fees, it is generally worth the peace of mind that they can bring. Not only are these unbiased parties, but contracts also legally bind these service providers to uphold your wishes.
