Considerations Surrounding Special Needs Dependents
For parents with special needs dependents, whether they be minors or adults, caring for them is naturally a top priority. One of the biggest concerns regarding special needs dependents is determining who will care for them once their parents are unable to do so themselves, as they often require constant personal care or financial assistance.
It is common for a dependent to receive money from the Department of Social Security in the form of Social Security Disability or SSI that the parent then manages on their behalf. Additionally, parents are often agents for their special needs dependent’s legal and property management, as well as their medical care through a Power of Attorney and Advance Health Care Directive.
What happens when a special needs dependent’s parents can no longer provide care? If the dependent is competent with a Power of Attorney and Advance Health Care Directive, alternate agents can be selected to provide care.
In the event that a dependent is competent but there are no alternative agents that are qualified or willing to assist, a private professional fiduciary may be a viable option.
For dependents who are incompetent or uncooperative, establishing a conservatorship while the parents are still able to provide care can be a smart option. Once a conservatorship is established, successors can be appointed with minimal issue.
What happens to the parents’ resources when they become unable to provide care? If a dependent’s parents have their own Power of Attorney or living trust, it should stipulate explicitly that resources be used to assist the special needs dependent. A parent can even state that the dependent be able to continue residing at home if they are in a hospital or nursing home, and can make sure the dependent’s needs are paid for.
If a dependent’s parents pass away, assets should be put into a discretionary trust to ensure that any needs-based government assistance continues, and to prevent those assets from being used irresponsibly.
If you or a loved one is a caregiver for a special needs dependent, let the team here at the BCN Law Firm help make the arrangements you need to ensure their continued care. For questions or more information, call us today at 352-775-4739.
