What is “Special Needs Planning?

Basically, the term “special needs” refers to any circumstance that is beyond the normal.  For example, there are many standard aspects to a normal retirement but, what if you are forced to retire for medical reasons?  That goes beyond the normal and enters into the special needs category because it takes a serious illness or injury to force one to retire and those situations require special medical planning.  Here is another example – for a typical family situation, you arrange for college funds but, what do you do when one of your children is too disabled to ever live on their own?  Again, this is a case where you require special needs planning in Palm Beach Gardens.

The type of “special needs” planning you should do entirely depends on your specific situation but here are a few ideas to help you sort it all out.

If you are forced to retire due to medical reasons, you can expect higher and longer-term medical bills than normal.  A Medicaid planning attorney Toms River can help you understand where Medicaid can help you and where you will need specialized coverage or some other assistance to cover your costs.  If your spouse is the one with the serious illness, you can expect to need an elder lawyer in Palm Beach Gardens to help you plan for your spouse's care if you happen to die first.

In the case of having a disabled child to look out for, the first thing you need to do is arrange for them to receive regular income every month.  You can do this by applying for social security disability or by arranging some sort of trust fund for them that is accessible later in their lives.  An elder law attorney in Toms River can help you with both things.  You will also need to arrange for their medical care after you are gone.  Again, a Medicaid planning attorney Toms River can help you navigate the often murky waters of Medicaid Red Bank NJ.

For either of these scenarios, you will probably also need to make sure that someone you trust is appointed as your spouse's or child's guardian or power of attorney when the time comes so that they have a legal advocate to make important decisions for them later.  Your elder law attorney in Palm Beach Gardens can serve in this capacity if you desire it but, he or she can also help you decide on someone else and make sure the proper paperwork is in place.

The truth is, “special needs” can refer to far too many situations to name them all but, the above examples will hopefully help you understand what special needs planning in Palm Beach Gardens could entail.