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Special needs planning crucial for family with special child

| Feb 20, 2018 | Financial Planning

Planning for the future is an important part of the average Colorado family’s routine. As a part of financial planning, the family often funds investment accounts, makes prudent financial decisions and establishes an estate plan. Yet, in spite of this essential planning, parents with special needs children often fail to complete special needs planning for the continued care of the child once they are no longer able to provide this care.

With advances in medical care, the average special needs child is living longer. While this is a blessing, it also can become a concern once the primary caregiver is no longer able to care for the child. In fact, research indicates that the majority of families with a special needs child have not taken the necessary estate or financial planning steps to ensure the child’s continued care.

The overwhelming rationale for not planning ahead in this aspect has to do with disagreement regarding what should be done. These disagreements often lead to indecisiveness and then a lack of planning. In many instances when this happens, another loved one such as a sibling must step in and take over. In other instances, the special needs child ends up being placed in an institution.

Decisions regarding who will take care of the special needs child and how this care will be funded are important parts of the special needs planning process. While it is easy to simply avoid making the difficult decisions, this is generally not in anyone’s best interest. Experienced legal counsel can assist the Colorado family in making the tough decisions and establishing a plan that will meet the needs of all involved.

Source:, “Many parents of children with disabilities don’t make care plans, study finds“, Feb. 9, 2018