There are many challenges for those who work through the divorce process, especially if kids are involved. Moreover, those who have a child with special needs may face even more uncertainty during the divorce process. Not only do some parents have questions and concerns regarding child custody, child support and other divorce-related topics, but some are worried about their child’s future and want to do everything they can to ensure that their child will have the resources they need in the years to come. Sometimes, a special needs trust is a great way to gain peace of mind knowing that these issues have been addressed.
If you have a child with special needs, whether they are a minor or have already reached adulthood, a special needs trust could be very beneficial. Not only could this type of trust grant you peace of mind with the knowledge that their financial needs have been taken into account, but a special needs trust could be very valuable for your child as well. For example, some people worry about their special needs child losing government benefits that they depend on due to receiving assets from an estate plan. However, a special needs trust can allow a beneficiary to continue receiving these benefits while gaining access to funds from a trust as well.
Maneuvering the divorce process can be tricky, especially for the parents of a child with special needs. However, this type of trust could be a major relief for you, your child and even your former spouse.