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McCurrie McCurrie
& McCurrie, L.L.C.

680 Kearny Avenue
Kearny, NJ 07032-3010
Phone: (201) 467-4180
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Estate planning for special needs children in New Jersey

If parents are interested in providing financial support for their children, they can use estate planning tools to make sure their wishes are clearly understood. However, some parents in New Jersey have extra things to consider during the process.

Most parents who have children with special needs take additional steps to help ensure their children receive the financial protection they need. Because basic estate plans typically do not address the extenuating circumstances of children with disabilities, parents need to find an adviser who is willing to spend extra time providing the legal support they need.

Financial planning can be complex when there are no special situations. However, in the same way that parents may need to spend extra time creating education plans or developing daily routines, additional perspective is also needed in estate planning.

Some attorneys who handle estate planning for families with special needs individuals say there are typically two main groups of parents: Some parents are so overwhelmed by the process and options that they ignore the entire concept of financial planning. Other parents are so concerned with making sure that their special needs individuals are taken care of, that they overlook the needs of the other children.

Ultimately, both of those approaches leave at least one child without the financial support he or she may need. A special needs trust may offer protection for the child with special needs, but it can also be important to create and fund tuition plans (or something similar) for your other children. Regardless of how you want to provide financial support for your children need, an attorney can help you implement that plan.

Source: Financial Planning, "Providing Advice to Families with Special-Needs Children," Steve Garmhausen

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