When a Child Has a Disability

If you're the caregiver for a child with a disability, experts recommend planning for the possibility that the child will outlive you. Here's estate planning advice from the National Information Center for Children and Youth with Disabilities, a federally funded clearinghouse in Washington, DC:

• Find a lawyer who specializes in legal and estate-planning matters for people with disabilities. For referrals, contact a local disabilities group or your local bar association.
• Ask your lawyer about a "special needs trust" or similar arrangement that enables parents to leave assets for a child's long-term needs and still preserve the child's eligibility for valuable government benefits such as Social Security payments, health care, subsidized housing and personal attendant care.

First Federal provides this information as a convenience to its customers. It is not intended to be professional advice.  First Federal encourages you to consult with a qualified advisor before making any decisions based on this information.

Source: FDIC Consumer News