When you have a child with disabilities, you have to prepare for a time when he or she may no longer have you to rely on. If you die, will your child be able to care for him or herself? Your child’s disability will impact how you prepare, explains AARP.
For example, some children may need round-the-clock care, whereas others may be able to live independently. The following preparations can help parents of children with a range of different disabilities.
Prepare for financial stability
In most cases, your child will have access to supplemental security income or SSI. To preserve his or her access, you may need to establish a special needs trust. This allows him or her to have access to assets and income without affecting his or her SSI.
Prepare for life without you
You should try to include your child in the estate planning process as much as possible. You do not want your child to feel uncertain or confused about the plan in the future. You may need to create a document that explains your child’s preferences, wishes, and routines that the child follows. In this document, you can also include any caregivers or people your child likes to be around.
Some children can take charge of the decision-making. He or she may choose a team of trusted people to help support decision-making.
Try to picture how you see your child living without you. Can you picture his or her house? You may have to choose between long-term care or housing your child in the family home.