For families with a special needs dependent child or adult, few things in life are “normal” or “routine.” And when it comes to estate planning for these families, the rule stays the same.
As estate planners, most of our clients come to us seeking guidance as they plan for the end of their lives, focusing on how they are going to take care of those people and things they care about the most when they are gone. This is certainly a necessary endeavor, but planning for our timely or untimely deaths is only a part of comprehensive estate planning.
One of the most rewarding aspects of being special needs estate planners is the opportunity we have to work with professionals from other disciplines in order to help those families of special needs children and adults. From insurance professionals, financials planners, accountants or clinicians and therapists, special needs planning allows us to work with people who are as dedicated as we are to helping families deal with their very unique, very special circumstances and challenges.
Lately, the unknown future of the federal estate tax has taken the spotlight on the stage of estate planning issues. Will the government let the existing estate tax exemption phase out, thus making the exemption available only to those estates worth $1.5M or less?