Reply to s/o adult children, one with mental challenges

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[quote=Anonymous][quote=Anonymous]A good, Free resource is the Special Needs Alliance website which has information on Special Needs Trusts and a free newsletter.  There is a detailed resource about serving as  
Trustee. One can have a professional such as a bank trust officer or a lawyer serve for a fee as a cotrustee if the SNT is large enough.  Or if a sibling is the Trustee, you can list Advisirs to the trust and also use funds for professional advice as needed.

In any kind of estate planning, remember you can always change the division if things change in the lives of your adult children.

There are community trusts managed by a group The Arc of NOVA is an example which is another way to go for some families.  Having an adult child with mental illness can have a very different set of issues as one may think they can handle life and resent any assistance.  Sometimes setting up a conservator ship for control of finances may be an option.  Also there are limited guardianship.

If one has a developmental disability, one should get on the appropriate DD Waiting List .
And get an understanding of the Adult Child Benefit so you put in for it when you retire or should you go on disability.  Waiver funded services with 24 hour support slots are few and far between until at least one parent is gone.  And remember if your adult child or sibling has services set for housing, day support etc  in MD, He/she can’t move to your state with the supports as a Waiver is not portable from state to state.

For some families another resource might be to understand how setting up an ABLE account 
For the disabled adult might enable one to have resources up to $100,000 and still qualify for benefits with. Representative Payee handling the account.

Take time to find an experienced and trusted lawyer and perhaps one with specific experience say with ID/DD or Mental
Illness as issues can differ.  We are there now,too, with a daughter with an ID and two
other married siblings in DC area.  It is not easy but one thing is that we did get LTC insurance so that we would have options on care to lessen being a burden(more likely when only one parent remains.) Too bad there is not the option to consider a CCRC at that point — or really before the crisis point![/quote]

TY for sharing - will check out.[/quote]

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