Special Needs And Siblings: Estate Planning

Thursday, March 1, 2001

by David Harmon (NAPSA)}—Growing up with a sibling with special needs can be a wonderful opportunity for a child to learn and grow. Siblings are often involved with school issues and other daily activities for their special needs brothers andsisters. They often provide social, per- sonal and emotional support. Sometimes, parents also arrange for the sibling to become primary caretaker, guardian or conservator after they've gone. Frequently, parents fear their children with special needs will lose government benefits unless they are disinherited. The problem with leaving the moneyto the other siblings is that the asset, once part of the sibling’s estate may eventu- ally go to his or her heirs and ca be attached through a divorce, law- suit or bankruptcy. Moreover, if th sibling gives the person with special needs more than $2,000, government benefits mayhelost. Fortunately, the way to avoid loss of benefits is to create a legal document known as a Special Needs Trust. Such a trust is maintained by a trustee on behalf of the person withspecial needs. The trustee manages the money in Adult siblings can care for their brothers and sisters with special needs without loss of government benefits H their parents plan properly in advance. imstitution such as a bank or trust company te act as trustee or co- trustee, though this can be costly. Special needs planning does net have to be done in isolation. it should involve the total coordination of all legal, personal and financial considerations affecting the entire family. Parents should feel they’ve met the needs ofall their children. For more information about this and other related topics call 1-877MetDESEor visit the MetDesk Web site at www.metlife.com/desk. accordance with the trust doenment and state and federal guidelines. The rooney doesn’t replace government benefits, only supplements them. A sibling may be named trustee of the Special Needs Trust, though Manager, anda parent of a special needs child. MetDESK is a division of Metropolitan Life Insurance Company, New York, NY. and discussed with the adult sibling. Sometimes parents narae an cial concerns of families with speclal needs children. ks should be carefully considered Mr. Harmon is the MetDESK 10010, that focuses on the finan-

--- PHOTOS ---

File: 20190801-082608-20190801-082604-50931.pdf.jpg

--- FILES ---

File: 20190801-082604-50931.pdf