There is only one way to
happiness, and that is
to cease worrying things
which are beyond the
power of our will.
Epictetus
happiness, and that is
to cease worrying things
which are beyond the
power of our will.
Epictetus
When one door closes
another opens. But
often we look so long so
regretfully upon the
closed door that we fail
to see the one that has
opened for us.
Helen Keller
another opens. But
often we look so long so
regretfully upon the
closed door that we fail
to see the one that has
opened for us.
Helen Keller
QUOTES
| 5 Mistakes That Special Needs Parents Often Make |
PAGE 2
WWW.LEIGHHILTONATTYS.COM PHONE: (940) 484-5080
There are many
mis-conceptions
regarding special
needs plan-ning that
can result in costly
mistakes in plan-ning
for special needs
beneficiaries.
MISTAKE #1: Counting
on siblings to use
their money to take
care of the special
needs child.
Parents may be
temp-ted to rely on
their other children to
pro-vide, from their own
in-heritances, for a
sp-ecial needs child.
This can be
temporary if their other
children are financially
secure and have
money to spare.
However, it is not a
so-lution that will
protect a special
needs child after
Parents have died
or when sib-lings
have their own
ex-penses and
financial priorities.
MISTAKE #2:
Disin-heriting the
special needs
beneficiary.
Many disabled people
re-ly on SSI, Medicaid
or other government
ben-efits. Parents may
have been advised to
disin-herit their special
needs
mis-conceptions
regarding special
needs plan-ning that
can result in costly
mistakes in plan-ning
for special needs
beneficiaries.
MISTAKE #1: Counting
on siblings to use
their money to take
care of the special
needs child.
Parents may be
temp-ted to rely on
their other children to
pro-vide, from their own
in-heritances, for a
sp-ecial needs child.
This can be
temporary if their other
children are financially
secure and have
money to spare.
However, it is not a
so-lution that will
protect a special
needs child after
Parents have died
or when sib-lings
have their own
ex-penses and
financial priorities.
MISTAKE #2:
Disin-heriting the
special needs
beneficiary.
Many disabled people
re-ly on SSI, Medicaid
or other government
ben-efits. Parents may
have been advised to
disin-herit their special
needs
children to protect their
children’s public ben-
efits. But these benefits
rarely provide more
than basic needs.
When a loved one re-
quires, or is likely to
require, governmental
assistance to meet his
or her basic needs,
parents, grandparents
and others should con-
sider establishing a
Special Needs Trust.
MISTAKE #3: Pro-
crastinating.
Because no one knows
when we may die or
become incapacitated,
it is important that Par-
ents plan for a benefi-
ciary with special
needs early, just as
they should for other
dependents such as
minor children. How-
ever, unlike most other
beneficiaries, special
needs beneficiaries
may never be able to
compensate for a fail-
ure to plan. Minor
beneficiaries without
special needs can ob-
tain more resources as
they reach adulthood
and can work to meet
essential needs, but
special needs benefici-
aries may never have
children’s public ben-
efits. But these benefits
rarely provide more
than basic needs.
When a loved one re-
quires, or is likely to
require, governmental
assistance to meet his
or her basic needs,
parents, grandparents
and others should con-
sider establishing a
Special Needs Trust.
MISTAKE #3: Pro-
crastinating.
Because no one knows
when we may die or
become incapacitated,
it is important that Par-
ents plan for a benefi-
ciary with special
needs early, just as
they should for other
dependents such as
minor children. How-
ever, unlike most other
beneficiaries, special
needs beneficiaries
may never be able to
compensate for a fail-
ure to plan. Minor
beneficiaries without
special needs can ob-
tain more resources as
they reach adulthood
and can work to meet
essential needs, but
special needs benefici-
aries may never have
that ability.
MISTAKE #4: Ignor-
ing the special needs
when planning.
Planning that is not
designed with the
beneficiary’s special
needs in mind will
probably render the
beneficiary ineligible
for essential govern-
ment benefits. A prop-
erly designed Special
Needs Trust promotes
the special needs per-
son’s comfort and hap-
piness without sacrific-
ing eligibility. Special
needs can include
training and education,
insurance, transporta-
tion, entertainment,
vacations and essential
dietary needs.
MISTAKE #5: Failing to
properly fund and
maintain the plan.
When planning for a
special needs child, it
is absolutely critical
that there are suffi-
cient assets available
for the special needs
beneficiary throughout
his or her lifetime. In
many instances, life
insurance can be used
to provide this liquidity.
MISTAKE #4: Ignor-
ing the special needs
when planning.
Planning that is not
designed with the
beneficiary’s special
needs in mind will
probably render the
beneficiary ineligible
for essential govern-
ment benefits. A prop-
erly designed Special
Needs Trust promotes
the special needs per-
son’s comfort and hap-
piness without sacrific-
ing eligibility. Special
needs can include
training and education,
insurance, transporta-
tion, entertainment,
vacations and essential
dietary needs.
MISTAKE #5: Failing to
properly fund and
maintain the plan.
When planning for a
special needs child, it
is absolutely critical
that there are suffi-
cient assets available
for the special needs
beneficiary throughout
his or her lifetime. In
many instances, life
insurance can be used
to provide this liquidity.