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The Estate Planning Process for Individuals with Special Needs

How are special needs defined? The term special needs refer to those with learning difficulties, behavioral or emotional problems, or physical disabilities requiring specialized education. For example, individuals with autism, ADHD, Asperger syndrome, Down syndrome, dyscalculia, dyslexia, deafness, blindness, and cystic fibrosis fall into the special needs category, as do cleft lips, missing limbs, and more. The US government combines this group into the overall classification of disability, and current US Census data estimates the US disabled population to be 12.7 percent or 41.1 million individuals.

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Buying Life Insurance Policies for Children With Special Needs

If your family includes a special needs child, you can use life insurance in two main ways. In one situation, parents may consider purchasing life insurance for their child’s life, addressing the possibility of outliving them. Alternatively, parents may use a life insurance policy in a trust as part of their estate planning; knowing their child with special needs is an enormous priority to safeguard after they have died.

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