Special Needs Trust Presentation in Canton, MI

Last night I presented to a small group of parents with special needs children at a Canton, MI middle school.  In addition to my presentation with a colleague, there was a representative of ARC of Wayne County.  We advised the parents on the legal and financial ramifications of planning for children with special needs.  My portion dealt with the estate planning issues parents with special needs children must consider.

We covered the different types of special needs trusts and how Michigan special needs trusts work.  For example, through proper planning we can

1. Protect eligibility for governmental benefits
2. Provide a higher quality of life
3. Provide a framework for care and management of assets
4. Allow parents to express their desires for care and development of their special needs child
5. Protection from creditors and predators
6. Extend the life of the asset

Also we covered common mistakes parents make when planning for their special needs child, including:

1. Disinheriting their special needs child
2. Relying on other children to care for their special needs child
3. Failing to provide privacy for their child with special needs
4. Choosing the wrong Trustee for their Michigan special needs trust
5. Choosing the wrong professionals to advise them

For a copy of the presentation notes, send me an email in the contact form and I’d be happy to provide it to you.

-Christopher J. Berry, Esq.
Michigan Estate Planning Lawyer