In many ways, Newport Beach parents raising special needs children are like any other parents. They’re raising beautiful children who bring joy and love into their homes, and they love their children more than the world. In other ways, however, they could have a dramatically different lifestyle than average Newport Beach parents.
Special needs children require different routines, special care, different discipline styles and parents of special needs children also need to plan carefully for the day when they’re no longer available to provide the special kind of love and assistance their children need. They can make these future preparations via a special needs trust.
If you’re thinking about forming a special needs trust, you might be worried about whether you have enough money to fund the trust. However, there are ways to work around this issue — namely through a life insurance policy that will fund your special needs trust at the moment of your death. Although paying the monthly fees for such a life insurance policy may feel burdensome, the peace of mind that comes from knowing your child will be financially secure when you’re gone is more than worth the money spent.
At The Soto Law Group, our attorneys are well-versed in the nuances of creating special needs trusts that honor the fact that your children will have different needs at different ages and stages of his or her life. Our special needs trusts are tailor-made to grow with your child, to ensure that his or her needs are met throughout his or her life.